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HBG/Boskalis deal collapses

NUTTAL PARENT HBG and Dutch dredging giant Royal Boskalis this week scrapped plans to merge after clashing over the future of HBG's struggling German contracting business.

Boskalis is to pursue links with other dredging contractors.

HBG initially rejected a merger approach from Boskalis, fearing that the dredging group would sell its global contracting operations.

It agreed to merger talks after a promise from Boskalis to keep contracting within the merged group (NCE 18 May).

News that the merger had collapsed was followed by the announcement the Jan Veraart had resigned as president of HBG's management board. He is replaced by Carel Jan Reigersman.

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