Maersk sells Maersk Supply Service to A.P. Moller Holding for $685m
Danish shipping giant Maersk has reached an agreement to divest its offshore energy contractor Maersk Supply Service to A.P. Moller Holding, the parent company of its owner A.P. Moller Group.
The transaction has an enterprise value of $685m and includes a wind installation vessel under construction in Singapore by SembCorp Marine.
Founded in 1967, Maersk Supply Service operates a fleet of 36 vessels. The company will continue trading under its current name and will be using the Maersk seven-pointed star logo as part of its brand.
The deal, when completed, will mark Maersk’s final divestment in the energy-related business. In 2016, Maersk initiated the separation of the existing energy-related activities as part of the new strategy around integrated logistics. Maersk Tankers, Maersk Oil & Gas and Maersk Drilling were sold in the period between 2017 and 2019.
“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,” says Martin Larsen, CFO at A.P. Moller Holding.
