Maersk sells ESVAGT for $610m

Maersk sells ESVAGT for $610m

Copenhagen: AP Moller-Maersk has sold its Danish offshore safety and supply subsidiary, ESVAGT, to two private equity firms for a price of $610m.

Maersk bought a controlling stake in the 1981-founded company three years ago. ESVAGT, which has a fleet of 43 vessels and more than 800 employees, has been snapped up by 3i Infrastructure plc and AMP Capital.

In a message to clients, ESVAGT said Maersk had disposed of the business as it felt ESVAGT was outside its core business.

“The new owners are dedicated to continue our current strategy, and we will continue to have the financial strength to build on our strong position and further develop our company,” ESVAGT said in a statement.

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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