Maersk’s Divestment of Maersk Supply Service Marks Completion of New Strategy Around Integrated Logistics

Maersk’s Divestment of Maersk Supply Service Marks Completion of New Strategy Around Integrated Logistics

(IN BRIEF) A.P. Moller – Maersk has agreed to divest its Maersk Supply Service to A.P. Moller Holding, the parent company of the A.P. Moller Group, for a value of $685m. The divestment represents the final step in the separation of the company’s existing energy-related activities, following the earlier divestments of Maersk Tankers, Maersk Oil & Gas, and Maersk Drilling. The transaction includes a pioneering wind installation vessel that will establish Maersk Supply Service as a leading offshore wind contractor, and the company will continue to trade under its current name and logo. Until all required regulatory approvals are obtained and the transaction is completed, Maersk Supply Service will remain a subsidiary of A.P. Moller – Maersk A/S and operate independently as usual.

(PRESS RELEASE) COPENHAGEN, 20-Mar-2023 — /EuropaWire/ —  A.P. Moller – Maersk (CPH: MAERSK-B), a global leader in container shipping, has reached an agreement with A.P. Moller Holding, the parent company of the A.P. Moller Group, for the intended divestment of Maersk Supply Service (MSS), a provider of global offshore marine services and project solutions for the energy sector.

Maersk’s new strategy around integrated logistics, adopted in 2016, included a separation of the existing energy-related activities. The intended sale of Maersk Supply Service is the final step in the divestment of these activities, following the earlier divestments of Maersk Tankers, Maersk Oil & Gas, and Maersk Drilling between 2017 and 2019.

The transaction includes a pioneering wind installation vessel that will establish Maersk Supply Service as a leading offshore wind contractor. The company will continue to trade under its current name and use the Maersk seven-pointed star logo as part of its brand.

DNB Bank ASA provided a fairness opinion confirming that the transaction value is fair from a financial point of view. The value of the transaction is USD 685m (enterprise value), reflecting an EV/EBITDA multiple of 27.4x based on EBITDA for the full year 2022.

Until all required regulatory approvals are obtained and the transaction is completed, Maersk Supply Service will remain a subsidiary of A.P. Moller – Maersk A/S and operate independently as usual.

“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,” said Patrick Jany, CFO at A.P. Moller – Maersk.

“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,” commented Martin Larsen, CFO at A.P. Moller Holding.