Maersk exits the energy segment for $658 mln

A.P. Moller-Maersk has signed an agreement with A.P. Moller Holding to divest the last of its energy-focused subsidiaries for USD 658 million, the Danish logistics giant announced on Monday.

The sale of support vessel subsidiary Maersk Supply Services is subject to regulatory approvals and will remain a subsidiary of A.P. Moller-Maersk until it closes.

Upon completion of the transaction, the company will continue under its current name and logo.

“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,” said Martin Larsen, CFO of A.P. Moller Holding.

Maersk Supply Services’ fleet contains 25 anchor-handling supply vessels, three platform supply vessels, seven subsea ships and a cable-layer unit.

The deal marks the conclusion of A.P. Moller-Maersk’s strategy to exit the energy business and become a logistics and container shipping company.

Between 2017 and 2019, the company divested its Maersk Tankers and Maersk Oil & Gas subsidiaries and spun off Maersk Drilling into a separate company.

A.P. Moller Holding is the parent company of diversified Danish conglomerate A.P. Moller Group.