Boskalis raises $424m for Dockwise offer

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Danica Newnham

 11 January 2013 09:49 GMT

Netherlands-based Royal Boskalis Westminster has raised 320 million euros ($424.4 million) to be used toward funding its public offer for Dutch heavy-lift specialist Dockwise.

The dredging and marine company said on Friday that a total of 9,696.969 new ordinary shares were placed - almost half through a private placement and the rest through an accelerated bookbuild offering.

Net proceeds of the equity raising are expected to be used to partly finance Boskalis’ takeover offer for Dockwise, which was increased to 18.50 euros per share on 21 December, valuing the company at 733 million euros.

Boskalis said in a statement on Tuesday that the rest of the offer will be financed through a mixture of existing cash resources…

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