Dockwise applies to delist

The mandatory cash offer from Royal Boskalis Westminster BV (Boskalis) of EUR18.50 per share, issued in February, was supported by Dockwise. If the uptake of the offer combined with Boskalis' current holding of Dockwise reaches 95%, the last day of trading for the company's shares will be 11 April 2013.

Boskalis' primary focus is on dredging, but the merger with SMIT in 2010 expanded the company's reach into the towage and salvage business.

Boskalis secured the debt funding for the acquisition of Dockwise in January 2013 with a 3 year $525m loan, a EUR500m revolving credit facility and EUR320m of new equity raised by an issue of shares..