Royal Boskalis Westminster N.V. (Boskalis) yesterday announced the intended sale of its stake in SAAM SMIT Towage with expected proceeds of more than EUR 175 million. Subject to the closing of this transaction, Boskalis intends to buy back the equivalent of EUR 100 million of its own shares. Based on the current share price, this represents 4.4 million shares or 3.3 percent of the current outstanding share capital. The actual start and details of the share buyback program will at that time be announced through a press release.