The possible sale was announced in November 2012 after Boskalis was approached a potential buyer from the Middle East. The equity interest was partly sold to this undisclosed party and partly to an existing 60% co-shareholder.
Archirodon operates as a maritime contractor mainly in the Middle East and North Africa. The sale is in line with Boskalis' strategic focus following the company's recent expansion through SMIT and Dockwise.
Boskalis received a cash sum of $190m for its 40% stake, resulting in a book gain of several tens of millions of euros. The Archirodon activities and results will be deconsolidated with effect from the third quarter 2013. The book gain will be recognised in the results for the second half of the year.
Boskalis has also a strategic partnership in terminal services, Smit Lamnalco. With a fleet of over 1,100 vessels Boskalis operates in around 75 countries across six continents. Including its share in partnerships, Boskalis has more than 11,000 employees.
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