Royal IHC has reached agreement to sell subsidiary IQIP Holding B.V. to HAL Investments B.V. (HAL), according to the company's release. IQIP is the world leader in foundations and installations in the offshore wind market. The sale involves the transfer of 100% of the shares of IQIP Holding B.V. to HAL.
Royal IHC had initiated WHOA proceedings (Homologation Private Agreement Act) to convince all financial stakeholders of a financial restructuring plan which included the sale of IQIP. The court ratified this plan last week.