KOTUG AND BOSKALIS SIGN LOI TO SELL KOTUG SMIT TOWAGE TO BOLUDA

     

    KOTUG International BV and Royal Boskalis Westminster N.V., 50/50 shareholders of Kotug Smit Towage, intend to sell their shares to Boluda Group (Boluda). Boluda offers a geographically strong and highly complementary European portfolio.

     

    KOTUG CEO Ard-Jan Kooren: "KOTUG will continue to expand its maritime and towage related activities worldwide. I am confident that this development will unlock new opportunities to further strengthen our growth and allow us to offer operational excellence and innovation to our customers.” 


    The final agreement is subject to satisfactory due diligence and regulatory approvals from the respective national authorities involved. Closing is scheduled for the second half of 2019.