Royal Boskalis Westminster N.V. (Boskalis) announces the launch of an equity offering to raise up to approximately EUR 230 million. The proceeds of the share offer will be used to partly finance the intended public offer for Smit Internationale N.V. (see press releases 12 November and 6 December 2009).
Up to 5.1 million ordinary shares (the Shares) will be offered through an accelerated bookbuild offering to institutional and other professional investors on a non pre-emptive basis (the Offering). It is expected that the shares issued in connection with the Offering will be admitted to listing on Euronext Amsterdam by NYSE Euronext on 15 December 2009.
The issue price and number of shares to be placed in the Offering will be determined at the conclusion of this Offering and will be announced in a subsequent press release. The book will open with immediate effect and the closing of the book is expected tomorrow in the course of the day. Settlement of the Offering is expected to take place on 15 December 2009.
In addition to the Offering, Boskalis’s large shareholders HAL Investments and Delta Lloyd Group have committed to acquire in aggregate up to a maximum of EUR 105 million worth of shares in a private placement (the Private Placement) on a non pre-emptive basis. HAL Investments will thereby maintain its 32,48% stake in Boskalis. The Private Placement will be executed at the same price and terms and conditions that will be established through the Offering. It is expected that the shares issued in connection with the Private Placement will be admitted to listing on Euronext Amsterdam by NYSE Euronext within a 90 day period from their issuance.
ING and ABN AMRO Bank N.V., to be renamed The Royal Bank of Scotland N.V. in due course, are acting as Joint Global Coordinators and Joint Bookrunners for the Offering. Kempen & Co is acting as placing agent of the Private Placement and advisor to Boskalis in the context of the Offering.