Annual report 2019

135

The table below shows the legal share in the major joint operations (project driven construction consortiums) in which the Group is involved:

2018

2019

COMPANY

COUNTRY

DREDGING & INLAND INFRA Boskalis Van Oord Pluit City JV V.O.F.

The Netherlands The Netherlands The Netherlands The Netherlands The Netherlands The Netherlands The Netherlands The Netherlands The Netherlands The Netherlands The Netherlands The Netherlands The Netherlands The Netherlands The Netherlands The Netherlands The Netherlands The Netherlands

50% 50% 50% 20% 50% 50% 80% 50% 50% 70% 38% 70% 33% 50% 30% 50% 70% 50% 50% 50% 50% 25% 51% 50% 17% 51% 30% 50% 50% 50% 50% 50% 50% 50% 50% 50%

50% 50% 50% 20% 50% 50% 80% 50% 50% 70% 38% 70% 33% 50% 30% 50% 70% 50% 50% 50% 50% 25% 51% 50% 17% 51% 30% 50% 50% 50% 50% 50% 50% 50% 50% 50%

BPL Beton

BPL Wegen

Combinatie BadhoeverBogen V.O.F.

Combinatie BaggerIJ

Combinatie Houtribdijk V.O.F.

Combinatie IJburg

Combinatie IJsselweide Combinatie Isala Delta

Combinatie Ommelanderdiek Combinatie Regenboog V.O.F.

Combinatie Tessel

MSB Grind & Zand V.O.F

Projectorganisatie Uitbreiding Maasvlakte (PUMA)

SAAone EPCM Bouwcombinatie V.O.F.

SAAone GWW V.O.F. Unie van Marken V.O.F.

ZSNH Combinatie Van Oord/Boskalis V.O.F. Boskalis Jan de Nul - Dragagens E Afins LDA

Angola

Bahia Blanca

Argentina Denmark

Fehmarn Belt Contractors I/S

NMDC-Boskalis-Van Oord-Jan de Nul Consortium for Suez Canal Project

Egypt India Qatar

BSI ---- JDN Joint - Venture Ras Laffan Port Extension

Penta-Ocean Koon DI Boskalis Ham JV (Jurong 4) Boskalis / Penta-Ocean Joint Venture Penta-Ocean / Hyundai / Boskalis JV Consorcio Boskalis-Dredging International

Singapore Singapore Singapore

Uruguay

OFFSHORE ENERGY Boskalis Offshore AS - Tideway V.O.F.

The Netherlands The Netherlands The Netherlands The Netherlands The Netherlands The Netherlands The Netherlands The Netherlands

JV North Sea Link

Nord Stream 2 Rock Joint Venture

Thames JV

Tideway-Boskalis JV

V.O.F. Tideway B.V. - Boskalis Offshore Subsea Contracting B.V

VBNK Borssele V.O.F. Vulcan & Viking JV

32. SUBSEQUENT EVENTS

ACQUISITION OF HORIZON In 2019 the Group’s share of 62.5% in Horizon was recognized as a joint venture. In January 2020 the Group obtained the remaining 37.5% of the outstanding shares and voting rights in Horizon, expanding its share in Horizon from 62.5% to 100%. This transaction is classified as a business combination. The Group paid an amount of EUR 45 million in cash to Horizon’s other shareholder. Following this transaction, Boskalis will be able to optimize its successful and expanding position in the marine geophysical and geotechnical survey market. Horizon will continue to focus on its traditionally strong market position in the Middle East and Northwest Europe with opportunities to expand into the emerging offshore wind market in the Far East making it highly complementary to the position already held by Boskalis through Gardline in Northwest Europe and on the East Coast of the United States. Due to the short time lag between acquisition date and reporting date the fair value of identifiable assets acquired (which include receivables) and liabilities assumed has not yet been determined. This, together with the determination of goodwill, will take place before the next reporting date (interim results 2020).

ANNUAL REPORT 2019 – BOSKALIS A 9 -- BOSKALIS