Boskalis Annual Report 2018

131

2018 50%

2017

ENTITY

COUNTRY OF INCORPORATION

Fehmarn Belt Contractors I/S

Denmark

50%

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

Egypt India Qatar

25% 51% 50% 17% 51% 30% 50% 50% 50% 50% 50% 50% 50% 50% 50%

25% 51% 50% 17%

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

50% 50% 50% 50% 50% 50% 50% 50%

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

31. SUBSEQUENT EVENTS Acquisition of 62.5% interest in the Horizon Group

On 21 February 2019 the Group announced the acquisition of a 62.5% interest in The Horizon Group from the United Arab Emirates. Horizon’s main activities include marine geophysical surveys and geotechnical services in the Middle East. Horizon operates seven large survey/geotechnical vessels (of which three are on a long term charter), five smaller survey vessels, two jack-up platforms, three motion- compensated drill towers for geotechnical services and eight ROVs. The remaining 37.5% of the shares are held by the incumbent management. The consideration paid amounted to EUR 66 million.

Due to the short time lag between the acquisition date and the reporting date not all information as required by IFRS can be disclosed at this moment. This information will be disclosed in the Half Year report 2019.

Intended sale of interest in Kotug Smit Towage joint venture Early March 2019 the Group, together with its co-shareholder Kotug International B.V. (Kotug), signed a letter of intent relating to the sale of Kotug Smit Towage to Boluda Group. The Group expects to receive approximately EUR 90 million in cash for its 50% interest in the joint venture. The transaction is expected to close in the second half of 2019, subject to, amongst others, customary conditions including a due diligence and approval from regulatory agencies. In the first quarter 2019, the interest in the joint venture, previously reported under Joint ventures and associates, will be classified as a disposal group. Sale of interest in partnership Saam Smit Towage Early February 2019 the Group signed an agreement with Sudamerica Agencias Aereas y Maritimas S.A. (SAAM) related to the intended sale and purchase of the Group’s interest in the partnership Saam Smit Towage (see note 5.2). Intended share buyback program In February 2019, Boskalis announced an intended share buyback program. Subject to the successful completion of the Saam Smit Towage transaction, Boskalis intends to repurchase the equivalent of EUR 100 million of its own shares. The actual start and details of the share buyback program will at that time be announced through a press release.

ANNUAL REPORT 2018 – BOSKALIS A L REP RT 2018 -- BOSKALIS