Posted on December 6, 2016
Royal Boskalis Westminster has completed the sale of its stake in SMIT Amandla Marine (SAM, first mooted in March this year. The stake was sold to management and local investors, returning the business of SAM to 100% South African ownership.
Boskalis received a cash sum of approximately EUR50m ($53.41m) for the sale.
Following the sale, Boskalis will continue to be permanently represented in the region through the activities of SMIT Salvage.
Source: Splash24/7
