A.P. Moller Maersk (Maersk) has reached an agreement with group parent company A.P. Moller Holding for its intended divestment of Maersk Supply Service (MSS), a provider of global offshore marine services and project solutions for the energy sector, with 1600 personnel, operating a fleet of 36 vessels.
Patrick Jany, CFO A.P. Moller-Maersk said: “We are very pleased to see Maersk Supply Service will be able to continue to further develop new solutions for the green transition of the offshore sector under a new long-term ownership. This transaction validates the excellent work done by the team in the last years. At the same time, it marks the completion of our initial decision to divest all energy related activities and focus on truly integrated logistics.”
In 2016, Maersk adopted its new strategy around integrated logistics and a separation of the existing energy related activities was initiated. Maersk Tankers, Maersk Oil & Gas and Maersk Drilling were divested in the period 2017-2019. Today with the intended sale of Maersk Supply Service the final divestment of the energy related activities will be completed.
Martin Larsen, CFO A.P. Moller Holding, said: “The capabilities and vessels Maersk Supply Service have built over more than 50 years supporting the oil and gas energy industry are much needed within offshore renewable energy, especially in the wind industry. 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.”
MSS will continue trading under its current name and will be using the Maersk seven-pointed star logo as part of its brand. The transaction includes a pioneering wind installation vessel, which when finalised will establish Maersk Supply Service as a leading offshore wind contractor.
As the transaction is between related parties, a fairness opinion has been obtained from DNB Bank ASA. The fairness opinion confirms that the transaction value is fair from a financial point of view.
