Boskalis has more than halved its shareholding in Fugro to less than 10% as part of a plan to sell off its interest in the company.
The offshore construction outfit said it now controls 9.38% of Fugro after a “successful accelerated bookbuild”. Last week Boskalis held a 24.9% stake.
Chief executive Peter Berdowski said the sell-off comes “despite our conviction” that parts of Fugro fit well with the Boskalis business.
“This decision is on the one hand based on the uncertain market conditions which continue to prevail much longer than anticipated and on the other hand also the position of the Fugro management,” he said.
“Through the gradual sell down we have taken away uncertainty in our own share and we expect to create more value for our shareholders going forward.”
Image: Boskalis vessel Giant 7 (Boskalis)
