Royal Boskalis Westminster has announced its second major business disposal within a month.
The Dutch company said it and co-shareholder Kotug International have agreed to sell Kotug Smit Towage to Spain's Boluda Group in a deal valuing the company at EUR 300m ($340m).
Boskalis expects to receive EUR 90m in cash for its 50% holding in the joint venture, which operates more than 70 units.
