JOC Staff | Nov 28, 2012 10:24AM EST
Dutch dredging and marine services group Boskalis said it has built up a 33 percent stake in Dockwise since it offered $887 million for the Netherlands-based heavy-lift shipping company at the beginning of the week.
The cumulative share purchases have made Boskalis the biggest individual shareholder in Dockwise, paving the way for an early takeover. HAL Investments, which has 32 percent of the outstanding shares in the Oslo- and Amsterdam-listed heavy-lift operator, has pledged to support the deal.
Due to Dockwise’s primary listing on the Oslo stock exchange, Norwegian offer rules will apply, Boskalis said.
The Netherlands Authority for Financial Markets has said Dutch takeover rules also apply to the transaction.
Boskalis said it would approach both regulators to ensure the offer process can be conducted efficiently.