Boluda completes acquisition of Kotug Smit Towage

Boluda Towage and Salvage, the towing division of Spain's Boluda Corporación Marítima, has successfully acquired Dutch company Kotug Smit Towage (KST).

The 100 per cent stock acquisition of KST is valued at €300 million (US$333 million) and has obtained the corresponding regulatory approvals in all countries.

The acquisition will add 67 tugs to Boluda Towage's 300-vessel fleet and increase the company's presence in Rotterdam, Liverpool, London Gateway, Southampton, Antwerp, and other major ports in the UK, the Netherlands, and Belgium.

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