DEME Sells REBO Shares to the Port of Ostend
Following the planned sale of PMV 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 and 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, 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, etcetera) 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.