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23 May 2019 The on-line newspaper devoted to the world of transports 09:52 GMT+2

March 4, 2019

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The Dutch Kotug and Boskalis will sell their joint venture of harbor tug to the Boluda Spanish

The entire capital of the Kotug Smit Towage is estimated 300 million euros

The Dutch marine groups Kotug International and Royal Boskalis Westminster have announced the subscription of a letter of attempts with the scope to sell their joint venture 50:50 Kotug Smit Towage to the Spanish group Boluda. According to the forecasts, the transaction will be capacity to term in the second half of the year of this year.

Kotug Smit Towage, that 2016 with the fusion are constituted in April of the respective activities of harbor tug of the two Dutch groups(on 25 December 2015), work a fleet of 65 tugs in 11 ports of Holland, Belgium, Germany and United Regno. The Iberian Boluda is active in the segment of the harbor tug through the Boluda Towage and Salvage that has a fleet of 245 employed naval units in European ports, Africans, Asians and Latins American.

Boskalis has famous culprit that based on the letter of attempts the entire capital of joint venture is estimated 300 million euros and that for the cession of own quota 50% the company will receive cash about 90 million euros.

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