DEME sells REBO nv shares to the Port of Ostend

Monday, September 30, 2019 — Following the planned sale of PMV nv’s stake in REBO, DEME has taken the decision to sell its own participation to the Port of Ostend. DEME possessed a 30% share (15% DEME Blue Energy & 15% DEME Offshore) in the company.

The REBO terminal in the outer port of Ostend is known as a heavy-load quay that specialises in the storage, pre-assembly and shipping of wind turbine components. In 2010, the Port of Ostend raised external capital for transforming the port into the leading hub in offshore wind logistics in the Southern North Sea. DEME, together with PMV and Artes-Group NV, established “REBO NV” (the Renewable Energy Base Ostend) for this purpose. Since then, REBO has operated as a logistics developer, investing in and renting out infrastructure (heavy-load quay, quay walls, office buildings etc.) on Port of Ostend sites.

The REBO terminal has matured considerably over the last ten years. So much that it now boasts a stable balance sheet and no longer requires the resources and expertise of its initial investors, who have been present from the outset. After a risky start-up phase and a high need for capital and expertise, the Port of Ostend now wishes to focus on expanding operations at this terminal. It is for this reason that the Port Authority proposed the discussions on the redistribution of shareholding. The Port of Ostend is in the process of acquiring the shares of all other shareholders.

ABOUT DEME GROUP

DEME is a world leader in the highly specialised fields of dredging, marine engineering and environmental remediation. The company can build on more than 140 years of know-how and experience and has fostered a pioneering approach throughout its history, being a front runner in innovation and new technologies.

DEME’s vision is to work towards a sustainable future by offering solutions for global challenges: a rising sea level, a growing population, reduction of CO2 emissions, polluted rivers and soils and the scarcity of natural resources. Although DEME’s activities originated with the core dredging business, the portfolio diversified substantially over the decades, including dredging and land reclamation, solutions for the offshore energy market, infra marine solutions and environmental solutions

While the company’s roots are in Belgium, DEME has built a strong presence in all of the world’s seas and continents, operating in more than 90 countries worldwide. DEME can rely on 5,200 highly skilled professionals across the globe. With a versatile and modern fleet of over 100 vessels, backed by a broad range of auxiliary equipment, the company can provide solutions for even the most complex projects.

DEME achieved a turnover of 2.65 billion euros in 2018. www.deme-group.com