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Boskalis completes sale of SMIT Gladstone towage
Royal Boskalis Westminster N.V. (Boskalis) has successfully completed the sale of its Australian harbor towage business to its strategic partner Smit Lamnalco. The sale had already been announced in August 2013 as part of a strategic realignment of the towage activities. Boskalis received USD 55 million in cash for all the outstanding shares in Smit Marine Australia Pty Ltd, the legal entity holding the exclusive harbor towage license in the port of Gladstone, Australia with 6 tug boats included. The transaction was at book value and will not have a material impact on Boskalis earnings.
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