Royal Boskalis Westminster (Boskalis) has signed a Letter of Intent (LOI) to acquire offshore activities from VolkerWessels. Under the intended transaction, Boskalis will acquire maritime and offshore wind energy related activities of VolkerWessels, being VBMS, Stemat and VSI (Volker Stevin International).
VBMS is a 50/50 Boskalis - VolkerWessels joint venture and active in the field of offshore cable installation and Boskalis will acquire the remaining 50% share in VBMS. Stemat has a global offering of specialised vessels including a cable laying vessel and multi-purpose vessels. VSI is specialised in the construction of offshore foundations and maritime constructions. It is the intention to close this transaction in the second quarter of 2016 subject to the satisfaction of customary conditions and with an effective date of 1 January 2016.
