Following Netherlands-based Royal Boskalis Westminster’s acquisition of 14.8% stake in Fugro on Friday, Fugro reaffirmed the company’s intent to stay independent on Monday, 10 November.
“Fugro highly values its position as the world leading independent geotechnical and survey services and data provider, which is core to Fugro's strategy,” the company said.
However, Fugro said it does intend to explore possible partnerships with other companies regarding its subsea division, including with Boskalis.
“The objective of such a partnership is to build a global Inspection, repair, replace and maintenance (IRRM) market leader,” Fugro added.
The acquisition on Friday was seen as a move toward a possible takeover of Fugro by Boskalis, despite a statement by Boskalis CEO Peter Berdowski saying that the marine services provider does not intend to make an offer on Fugro.
The reason for take over concerns may stem from Boskalis’ 2012 takeover of Dutch marine contractors Dockwise. Leading up to the acquisition, Boskalis gradually increased its stake in Dockwise, eventually becoming the largest stakeholder in the company. Boskalis then made an offer for EUR 682 million, finalizing the acquisition in 2013.
Berdowski insisted again on Monday that Boskalis is only looking at possible options for cooperation.
“For many years, we have worked together on numerous projects throughout the world and there are strong similarities in the working environment and culture,” Berdowski said on Monday. “We would like to speak and explore with the management of Fugro possibilities for cooperation. We support the recently realigned strategy of Fugro, and do not intend to make an offer."
In March 2014, Boskalis moved to acquire Fairmount Marine BV and Fairmount Ocean Towage Co. from France’s Louis Dreyfus Armateurs.
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Boskalis acquires stake in Fugro
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