Royal Boskalis Westminster N.V. (Boskalis) has sold its road maintenance company Aannemingsbedrijf De Jong en Zoon Beheer B.V. and the associated De Jong subsidiaries (De Jong) to the management and Foreman Capital.
The De Jong activities were taken over at the end of 2011 as part of the acquisition of MNO Vervat. De Jong is primarily active in the maintenance of the main road network and inland waterways in the Netherlands.
Boskalis' strategy in the Netherlands is focused on large and medium-sized integrated projects and an independent maintenance company does not fit in this strategy.
The proceeds of the divestment are expected to be around EUR 30 million and will not have a material impact on Boskalis' earnings.