Maersk Drilling demerger moves ahead

Maersk Drilling demerger moves ahead

A.P. Moller – Maersk has initiated the demerger and separate listing of Maersk Drilling in the latest chapter of the transformation of the Danish shipping giant. Under boss Soren Skou, Maersk has moved to offload its energy-related businesses to become a pure-play container specialist.

The shares in Maersk Drilling Holding and its subsidiaries as well as certain other assets and liabilities will be contributed to a new company with the legal name The Drilling Company of 1972 A/S and the shares will be admitted for trading and official listing on Nasdaq Copenhagen.

Following the anticipated signing and publication of statutory demerger documents on March 4, the board of directors of A.P. Moller – Maersk intends to propose the demerger for approval by shareholders at the company’s annual general meeting on April 2.

The shares in Maersk Drilling will then be distributed to A.P. Moller – Maersk shareholders, who in addition to their shareholding in A.P. Moller – Maersk will become shareholders in Maersk Drilling.

The anticipated first day of trading on Nasdaq Copenhagen is on April 4.

“Maersk Drilling is an industry leader in the global offshore drilling market, based on its well-reputed and safe operations and a fleet that is among the youngest and most advanced in the industry. The demerger will create a listed Danish-based offshore drilling company with a clear investment profile and long-term development prospects. Maersk Drilling is well-positioned to capitalise on the value creation opportunity of a globally leading pure play offshore drilling company to the benefit of both its long-term blue-chip customer base, as well as its investors”, said Claus Hemmingsen, vice CEO of A.P. Moller – Maersk and chairman of the Maersk Drilling board of directors today.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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