Boskalis sells remaining stake in Saam Smit Towage for US$200 million

Photo: Saam

Royal Boskalis Westminster has completed the sale of its equity stake in Saam Smit Towage joint venture to Saam.

The company received approximately US$200 million in cash for its equity stake in the joint venture, the activities of which were deconsolidated as per January 1, 2019 following the signing of a letter of intent.

The towage joint venture between Boskalis and Saam was formed in 2014 which at the time covered the respective towage activities in Brazil, Panama, Mexico, and Canada.

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