HAL Investments

Sole Financial Broker to the Foundation

Kempen & Co acted as Sole Financial Broker to the Foundation in the € 4.3 billion public offer for Royal Boskalis Westminster

HAL Investments (“HAL”) announced on 10 March 2022 its intention to launch an offer for all issued and outstanding shares of Royal Boskalis Westminster (“Boskalis”)
Today HAL has successfully ended the post-closing acceptance period and it now has 98.3% of all outstanding Boskalis shares
HAL intends to initiate the statutory buy-out proceedings in order to obtain 100% of the shares and delist Boskalis
The Offer provided an attractive premium delivering immediate, certain and significant value to Shareholders. The Offer Price of € 33.00 (cum dividend), represented a premium of approximately 32% to the closing price per share on the Reference Date (9 March 2022), and a premium of approximately 32% to the volume-weighted average closing price three months prior to and including the Reference Date
Kempen & Co is pleased to have assisted HAL, and has been instrumental in both the acquisition of 16.6% of the Shares in the open market as well as 35.6% of the Shares being tendered under the Offer. Kempen & Co also acted as the Settlement Agent

HAL is the Dutch investment subsidiary of HAL Holding N.V., an international investment company that is listed on the Amsterdam Stock Exchange via HAL Trust (AMS: HAL)
HAL is focused on private equity investments and buy-and-build strategies. It has a diverse portfolio of internationally active companies, including Coolblue, Vopak, and FD Mediagroep
The net asset value of HAL amounted to € 13.5 billion on June 30, 2021

Boskalis is a Dutch based leading global dredging and offshore contractor and maritime services provider
The company is active in four segments, Dredging & Inland Infra, Offshore Energy, Towage, and Salvage
Over 100 years old Boskalis now employs more than 10,000 people, is active in 90 countries and has over 600 vessels and floating equipment in operation
Kempen & Co has advised Boskalis on several Equity Capital Market transactions, on the € 733 million public offer for Dockwise in 2013, and on the € 1.1 billion public offer for Smit Internationale in 2010

Kempen & Co is the most active adviser in public offers in the Netherlands since 2019, as financial adviser or broker on 5 transactions with an aggregate of over € 7 billion
Following successful transactions including CTP’s € 1.2 billion public offer for Deutsche Industrie REIT announced in 2021, Infestos’ € 218 million public offer for Neways Electronics, Gilde Equity Management’s € 80 million offer for DPA Professionals, and Reggeborgh’s € 1.5 billion offer for VolkerWessels
The transaction underpins our unique position in Benelux corporate finance advisory