Maersk inches one step closer to Russia exit as it sells logistics assets

A.P. Moller – Maersk has moved a step closer to discontinuing activities in Russia, having struck a deal to sell its logistics sites in the country to IG Finance Development. 

The Danish shipping and logistics group has offloaded its 1,500 teu inland depot facility in Novorossiisk and a chilled and frozen warehouse in St Petersburg.

The transaction has obtained regulatory approvals in the EU and Russia, and upon acquiring the facilities, IG Finance Development has made an agreement with Arosa, a large food importer in Russia, to operate the sites.

“We are pleased to have found a new owner of our two logistics sites in Russia and thereby execute on our decision to divest all our assets in the country. Throughout the divestment process, we have as a company felt a strong responsibility towards the remaining 50 employees at the two sites, and we are happy that they will be offered employment as part of the new setup,” said Karsten Kildahl, chief commercial officer of Maersk.

Last August, Maersk’s terminals business, APM Terminals, sold its 30.75% shareholding in Global Ports Investments (GPI) to Delo Group.

Following the latest deal, Maersk’s remaining asset link to Russia is through its towage unit, Svitzer, which according to the company’s annual report, has also “taken steps to divest its operations, including four tugs.”