BREDA, THE NETHERLANDS--(Marketwire - Nov 26, 2012) - Dockwise Ltd. confirms it has
received an unsolicited intended offer from Royal Boskalis Westminster N.V.
('Boskalis') for the acquisition of all outstanding shares of Dockwise at
an
offer price of EUR 17.20 per share cum dividend. The intended offer by
Boskalis
is subject to certain specified and unspecified conditions.
The Board of Directors of Dockwise, together with its financial and legal
advisers, will consider the intended offer of Boskalis to assess its
merits,
risks and the consequences for Dockwise and its shareholders, as well as
its
employees and other stakeholders, compared with the stand-alone strategy of
Dockwise and other alternatives.
In preliminary discussions, initiated by Boskalis, the strategic rationale
for a
combination of Dockwise and Boskalis was presented by Boskalis. As part of
the
evaluation process by the Board of Directors, Dockwise will seek
clarification
from Boskalis with regard to its intended offer.
André Goedée, CEO of Dockwise, comments on the developments:
"This unsolicited approach for our Company has arrived not only during a
phase
of successful strategic development, but also during a period of intense
tendering in the upstream arena. With the strategic acceleration in
logistic
management and the addition of new vessels, such as the Dockwise Vanguard
and
the Dockwise White Marlin, the Company is well positioned in the Oil and
Gas
upstream and downstream environment. From this position the Company is well
suited to manage its next steps on a standalone basis.
The medium term outlook in the Oil and Gas upstream and downstream
environment
clearly emphasises that there will be opportunities to establish new
backlog
records for Dockwise in the near future. Our position built in our
individual
markets, on top of our unrivalled leadership in Heavy Marine, Transport,
leads
to the conclusion that any offer made for the Company should fully reflect
our
strong market position and should clearly serve the interests of the
Company as
a whole, including all our shareholders, as well as our employees, clients
and
other stakeholders."
Further announcements will be made if and when appropriate.
This is a press release in accordance with Section 5:25i paragraph 2 of the
Dutch Financial Supervision Act (Wet op het financieel toezicht) and is
subject
of the disclosure requirements pursuant to section 5-12 of the Norwegian
Securities Trading Act.
About Dockwise Ltd. / Dockwise Group
Dockwise Ltd., a Bermuda incorporated Company, has a workforce of more than
1,300 people both offshore and onshore. The Company is the leading marine
contractor providing total transport services to the offshore, onshore and
yachting industries as well as installation services of extremely heavy
offshore
platforms. The Group is headquartered in Breda, the Netherlands. The
Group's
main commercial offices are located in the Netherlands, the United States
and
China with sales offices in Korea, Australia, Brazil, Russia, Singapore,
Malaysia, Mexico and Nigeria. The Dockwise Yacht Transport business unit is
headquartered in Fort Lauderdale and has an office in Italy. The Dockwise
Shipping network is supported by agents in Norway, Argentina and Italy.
To support all of its services to customers, the group also has three
additional
engineering centers in Houston, Breda and Shanghai, manufactures specific
motion
reduction equipment such as LMU (Leg Mating Units) and DMU (Deck Mating
Units)
and operates a fleet of 25 purpose built semi-submersible vessels
(including
Dockwise Vanguard, Finesse and White Marlin).
Dockwise shares are listed on the Oslo Stock Exchange under ticker DOCK and
on
NYSE Euronext Amsterdam under ticker DOCKW.
For further information: www.dockwise.com
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Dockwise Ltd via Thomson Reuters ONE
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