Public offer for
HAL Investments
Sole Financial Broker to the FoundationKempen & Co acted as Sole Financial Broker to the Foundation in the € 4.3 billion public offer for Royal Boskalis Westminster
Transaction highlights
- HAL Investments (“HAL”) announced on 10 March 2022 its intention to launch an offer for all issued and outstanding shares of Royal Boskalis Westminster (“Boskalis”)
- Today HAL has successfully ended the post-closing acceptance period and it now has 98.3% of all outstanding Boskalis shares
- HAL intends to initiate the statutory buy-out proceedings in order to obtain 100% of the shares and delist Boskalis
- The Offer provided an attractive premium delivering immediate, certain and significant value to Shareholders. The Offer Price of € 33.00 (cum dividend), represented a premium of approximately 32% to the closing price per share on the Reference Date (9 March 2022), and a premium of approximately 32% to the volume-weighted average closing price three months prior to and including the Reference Date
- Kempen & Co is pleased to have assisted HAL, and has been instrumental in both the acquisition of 16.6% of the Shares in the open market as well as 35.6% of the Shares being tendered under the Offer. Kempen & Co also acted as the Settlement Agent
About HAL Investments
- HAL is the Dutch investment subsidiary of HAL Holding N.V., an international investment company that is listed on the Amsterdam Stock Exchange via HAL Trust (AMS: HAL)
- HAL is focused on private equity investments and buy-and-build strategies. It has a diverse portfolio of internationally active companies, including Coolblue, Vopak, and FD Mediagroep
- The net asset value of HAL amounted to € 13.5 billion on June 30, 2021
About Royal Boskalis Westminster
- Boskalis is a Dutch based leading global dredging and offshore contractor and maritime services provider
- The company is active in four segments, Dredging & Inland Infra, Offshore Energy, Towage, and Salvage
- Over 100 years old Boskalis now employs more than 10,000 people, is active in 90 countries and has over 600 vessels and floating equipment in operation
- Kempen & Co has advised Boskalis on several Equity Capital Market transactions, on the € 733 million public offer for Dockwise in 2013, and on the € 1.1 billion public offer for Smit Internationale in 2010
Kempen & Co Corporate Advisory
- Kempen & Co is the most active adviser in public offers in the Netherlands since 2019, as financial adviser or broker on 5 transactions with an aggregate of over € 7 billion
- Following successful transactions including CTP’s € 1.2 billion public offer for Deutsche Industrie REIT announced in 2021, Infestos’ € 218 million public offer for Neways Electronics, Gilde Equity Management’s € 80 million offer for DPA Professionals, and Reggeborgh’s € 1.5 billion offer for VolkerWessels
- The transaction underpins our unique position in Benelux corporate finance advisory
Contact
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