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HomeMaritime NewsRegionsMiddle East & AfricaBoskalis sells stake in SMIT Amandla Marine

Boskalis sells stake in SMIT Amandla Marine

Boskalis sells stake in SMIT Amandla Marine
Royal Boskalis Westminster (Boskalis) announced it has successfully completed the sale of its stake in SMIT Amandla Marine (SAM).

The possible was orignally announced in March 2016. The stake was sold to management and local investors, thereby returning the business of SAM to 100% South African ownership, Boskalis said in a statement.

Boskalis received a cash sum of approximately $53.13m from the sale. The activities and results of SAM will be deconsolidated with effect from 1 December 2016.

Following the sale, Boskalis will continue to be permanently represented in the region through the activities of SMIT Salvage.

TAGS: Ports Ship Operations Regions Salvage
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