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Provider: Reuters Investment Profile

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Koninklijke Boskalis Westminster NV Updates on All Cash Voluntary Public Offer for Shares of Dockwise

Monday, 7 Jan 2013 07:00pm EST 

Koninklijke Boskalis Westminster NV announced that with reference to the press release of December 21, 2012 in which the Company announced its decision to make an all cash voluntary public offer for all the issued and outstanding ordinary shares of Dockwise at a price of EUR 18.50 per share cum dividend (the Offer), it confirmed that it has the necessary funds available to finance the Offer. The Offer values Dockwise at EUR 733 million with an enterprise value of approximately EUR 1.25 billion. The Company will finance the Offer and refinance existing facilities through a mix of existing cash resources, new senior debt facilities and an equity issuance. The Company confirms that it has taken measures to ensure that it will be able to finance the equity part of the Offer and that it has secured EUR 1.3 billion of committed financing arrangements with tenors of up to 5 years. The combination of the committed debt financing and the intended issue of new equity will be used to finance the Offer and for general corporate purposes. 

Company Quote

-0.24 -0.53%
26 Nov 2014