The offer price represents an implied equity value for 100% of Boskalis of EUR 4.2 billion. NautaDutilh acts as legal advisor to HAL.
HAL has been a shareholder of Boskalis since 1989. It believes that given Boskalis’ business characteristics, the long-term nature of its larger projects (typically spanning multiple years) and the cyclicality of its underlying markets, Boskalis could benefit from private ownership with a long-term investment horizon, and that such private ownership could also enhance M&A opportunities. HAL supports Boskalis’ existing strategy, and has no intention to change its management or governance. HAL is committed to the long-term interests of Boskalis and its business, taking into account the interests of its stakeholders, including its employees. HAL does not envisage reductions of Boskalis’ workforce as a direct consequence of the Offer or completion thereof. HAL will finance the intended offer from its available cash resources. The offer will not be subject to a minimum acceptance threshold. Closing of the offer will be subject to obtaining the requisite regulatory and competition clearances, which HAL expects to obtain in Q3 of 2022.
Stefan Wissing: 'We know the team at HAL well, having worked with HAL on previous occasions including the sale of HAL’s majority stake in GrandVision. It is great to be working together with them again on this major and exciting transaction.'
The NautaDutilh team is led by Stefan Wissing and includes Leo Groothuis and Dineth de Graaf (Corporate M&A), Paul van der Bijl and Sanne Meester (Notarial), Homme ten Have and Daniël Kuiper (Employment), Nina Kielman (Tax) and Jinne van Belle and Stephan Huis in het Veld (Finance).