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.