European Commission Nods to Boskalis Buying VolkerWessels

The European Commission has approved under the EU Merger Regulation the acquisition of VolkerWessels Offshore by Boskalis.

The EC concluded that the proposed acquisition would raise no competition concerns, because it would not significantly change the market structure. The operation was examined under the simplified merger review procedure.

VolkerWessels Offshore comprises three businesses, namely Stemat Holding B.V., Volker Stevin International Holding B.V., and VBMS Holding B.V.

VBMS, a 50/50 Boskalis – VolkerWessels joint venture, is an offshore cable installation company. As a consequence of this transaction, Boskalis will acquire the remaining 50% share in VBMS.

Stemat operates a fleet of specialized vessels including a cable laying vessel and multi-purpose vessels. VSI is specialized in the construction of offshore foundations and maritime constructions.

In late 2014 and mid-2015, Boskalis and VSI jointly acquired two large offshore wind farm projects, Wikinger and Veja Mate respectively. As a consequence of this transaction, Boskalis will execute these two projects on a 100% basis.

Bokalis plans to close this transaction in the second quarter of 2016.