Boskalis will acquire the equipment, employees and selected maintenance contracts of Hamburg-based dredging company Strabag Wasserbau. Remaining outstanding contracts will be taken over by Boskalis or will be completed by Boskalis as a subcontractor.
鈥淲e have decided to sell our hydraulic engineering assets to Boskalis, which is capable of operating the business strategically,鈥� said Strabag CEO Thomas Birtel. 鈥淲ithin our group, these activities would be consigned to a niche area. We are especially pleased that Boskalis is also willing to further employ the 238 employees of Strabag Wasserbau GmbH.鈥�
The transaction is expected to be finalised in the first quarter of this year. The closing is pending approval by the supervisory board of Strabag SE and the competition authorities. The transaction will then become effective retroactively to 1 January 2016.
The Strabag group had entered the sector in September 2007 with the acquisition of 70% of German hydraulic engineering specialist Josef M枚bius Bau Aktiengesellschaft. The remaining 30% of shares were purchased in July 2011. In 2013, Josef M枚bius Bau was renamed Strabag Wasserbau. In the field of dredging, the company generated annual revenues of between 鈧�60 and 鈧�160m in the years from 2013 to 2015.
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