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Shareholders of Lamnalco Group continue to pursue a merger with the Terminals Division of Smit Internationale

Date: 26 February 2008

Today Smit Internationale nv rejected the bid from the shareholders of the Lamnalco Group on their global oil and gas terminal services.

The response from Smit does not address the merits of the proposal. The shareholders of the Lamnalco Group believe that a merger of the terminal businesses of Smit and Lamnalco is in the best interest of their mutual stakeholders.

A merger of the two players is a natural step from the strategic, operational, commercial and financial perspectives. The main benefits are:

  • The creation of a world-class player in terminal services
  • Optimal services for global oil and gas customers
  • Extensive opportunities for employee development
  • Value creation for shareholders on both sides

The shareholders of Lamnalco Group continue to pursue a merger of the mutual terminal businesses.

For further information please contact:

Roel Berends - Corporate Relations  
Telephone: +31 (0)78 69 69 822 / +31 (0)6 2001 0232
Fax: +31 (0)78 69 69 020


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