Danish shipping company Maersk has reached an agreement with A.P. Moller Holding to divest its offshore energy contractor Maersk Supply Service to the parent company of its owner, A.P. Moller Group.
Maersk Supply Service is a leading provider of global offshore marine services and project solutions for the energy sector.
The transaction has a value of $685m and includes a wind installation vessel under construction in Singapore.
Founded in 1967, Maersk Supply Service operates a fleet of 36 containers. The company will continue to exist under its current name and will be using the Maersk logo as part of its brand.
In 2016, Maersk initiated the separation of the 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. The deal, when completed, will be Maersk’s final separation in the energy-related business.
“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.
Source: A.P. Moller – Maersk