The cumulative value of these four orders amounts to around 100 million US Dollars.
SHIPBUILDING SALE COMPLETED
IHC Caland N.V. is pleased to announce that the sale of its entire shipbuilding activities has been completed today Tuesday March 1, 2005. In addition to the sale of 82% of its interest in the IHC Holland and Merwede shipyards, provisionally announced on 21 January, the option granted to the buyer IHC B.V. in respect of the remaining 18% interest has been exercised, meaning that IHC Caland retains no residual shareholding. Approval for the sale was received from the European Commission, IHC Caland’s shareholders, and the Works Councils of the shipyards.
The buyer, IHC B.V., is owned as to 49% by Rabo Private Equity, the private equity arm of Rabobank, 33% by the management and employees of the shipyards, and 18% by Parkland, a part of the Indofin group.
The total sales proceeds amount to EUR 7,800,000 including interest from the effective date of transfer of around EUR 300,000. The financial consequences of the transaction have been summarized in the company’s press release of January 31, and explained in detail in the information supplied on January 25 in connection with the Extraordinary General Meeting of Shareholders, held on February 11, to approve the transaction.
IHC Caland wishes the newly independent group lots of success.
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