Cergy, December 21st, 2018 - SPIE, the independent European leader in multi-technical services in the areas of energy and communications, has announced today that it has signed an agreement with Royal Boskalis Westminster N.V. (‘Boskalis’) for the sale of its offshore cabling activities in Germany.
These activities constitute the major part of the Gas & Offshore division which was acquired with SAG in March 2017 and for which a sale process was initiated shortly thereafter. This disposal is in line with SPIE’s strategic focus on its core business of small, recurring, low-risk multi-technical services contracts.
As a result of this transaction, all assets, employees and contractual obligations for future operations pertaining to the offshore cabling activities will be transferred to Boskalis. Completion of the transaction is subject to the satisfaction of customary conditions and is expected to occur during the first quarter of 2019.
The remaining Gas & Offshore division mainly includes a more traditional construction activity, for which a separate sale process is in progress.
Commenting on the transaction, Gauthier Louette, Chairman and Chief Executive Officer of SPIE, declared: “I am convinced that Boskalis is the perfect group for the future development of the German offshore cabling activities and a good home for their employees. The completion of this transaction will mark the end of SPIE’s major corporate reorganization and restructuring projects initiated in 2017. With the right organization for 2019, SPIE is now fully focused on execution and delivery on its proven business model.”
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