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30 May 2020 The on-line newspaper devoted to the world of transports 20:06 GMT+2

February 11, 2019

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Original news
Boskalis yields to SAAM the participation in active American joint venture in the field of the harbor tug

The transaction will have a value of 201 million dollars

The Dutch group Royal Boskalis Westminster has signed an agreement with Chilean SAAM in order to yield them own participation in SAAM SMIT Towage, joint venture constituted in 2014 with the fusion of the activities of towing operated by the two groups in the continent American (Brazil, Canada, Mexico and Panama)(on 12 April 2013).

In particular, the understanding previews that Boskalis yields own quotas in the two Saam Smit Towage Brasil societies (company that work in Brazil) and Saam Smit Towage Mexico (company that work in Canada, Mexico and Panama), pairs respective to 50% and 49% of the share capital, for total 201 million dollars, a enterprise value of SAAM SMIT Towage estimated altogether of 560 million dollars.

With the transaction Chilean group SAAM will become only owner of two joint venture that in the 2018 has recorded a turnover of 205 million dollars. The two societies have fleets constituted altogether from 106 tugs distributed in 30 ports of the four nations. With the acquisition the consistency of the fleet of tugs of group SAAM will go up to 153 naval units used in nine nations of the continent American.

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