Annual report 20108.31 MB - Boskalis

Financial statements 201028. Subsequent eventsBusiness Combination RebrasOn March 3, 2011, the Group acquired control over Rebras Rebocadores do Brasil SA by the acquisition of theremaining 50% of the outstanding shares. As a result, participation increased from 50% to 100%.Rebras Rebocadores do Brasil SA Brazil is a maritime services provider in the operational segment HarbourTowage. The main customer groups are in the sectors of shipping companies, shipping agents and the oil andgas industry.Gaining control over Rebras Rebocadores do Brasil SA allows the Group to offer the full service concept in Braziland to support other group companies in carrying out assignments in Brazil. The consideration paid is USD 38million in cash. There are no material costs associated with this transaction.Due to the short time lag between acquisition date and reporting date the fair value of identifiable assets (whichinclude receivables) and liabilities acquired has not yet been determined.This, together with the determination of goodwill, will take place before the next reporting date (interimresults 2011).Proposed profit appropriation 2010An amount of € 185.3 million will be added to the retained earnings. The proposal to the Annual General Meetingwill be to appropriate the remainder, € 125.2 million, for a dividend payment of € 1.24 per share.The dividend will be made payable in ordinary shares to be charged to the tax-exempt share premium or to becharged to the retained earnings, unless a shareholder expressly requests payment in cash.29. Related parties29.1 Identity of related partiesThe identified related parties to the Group are its Group companies, its joint ventures, its associated companies(see note 15), its shareholders with significant influence, its pension funds that are classified as funded definedbenefit pension schemes in accordance with IAS 19 and the members of the Supervisory Board and Boardof Management.Group companiesThe following are the most relevant active Group companies.Royal Boskalis Westminster nv115