Maersk to complete divestment of energy activities with sale of Maersk Supply Service

A.P. Moller – Maersk has this week announced that it has reached an agreement with A.P. Moller Holding, the parent company of the A.P. Moller Group, for an intended divestment of Maersk Supply Service (MSS), a provider of global offshore marine services and project solutions for the energy sector.

The sale of MSS would conclude Maersk’s strategy of separating its logistics businesses from its energy-related activities – a strategy that began in 2016. Since then, Maersk Tankers, Maersk Oil & Gas, and Maersk Drilling have all been divested, leaving only MSS, which it now intends to sell.

Patrick Jany, Maersk’s Chief Financial Officer, said: “We are very pleased to see Maersk Supply Service will be able to continue to further develop new solutions for the green transition of the offshore sector under a new long-term ownership.

“This transaction validates the excellent work done by the team in the last years. At the same time, it marks the completion of our initial decision to divest all energy-related activities and focus on truly integrated logistics.”

Maersk has confirmed that MSS will continue trading under its current name and will be using the Maersk seven-pointed star logo as part of its brand. The company says that ‘the transaction includes a pioneering wind installation vessel, which when finalised will establish Maersk Supply Service as a leading offshore wind contractor’.

A.P. Moller Holding’s Chief Financial Officer Martin Larsen added: “The capabilities and vessels Maersk Supply Service have built over more than 50 years supporting the oil and gas energy industry are much-needed within offshore renewable energy, especially in the wind industry.

“As new owners we will drive a transition of Maersk Supply Service to over time become a leading offshore marine company servicing the offshore wind industry.

“At the same time, we are pleased that this concludes the separation of energy-related activities from A.P. Moller – Maersk as initiated in 2016.”

Before the transaction is finalised it will have to be assessed by DNB Bank ASA to ensure the transaction value is fair due to the relationship between the two parties.

Source: logisticsmanager.com