Maersk Tankers sale agreed

Multinational

COPENHAGEN, September 20, 2017 – A.P. Møller-Mærsk has agreed to sell Maersk Tankers to a subsidiary of its controlling shareholder, which will in turn set up an ownership consortium for the fleet, the Danish company announced on Wednesday.

Japan’s Mitsui will join the consortium led by A.P. Møller Holding once the USD 1.17-billion cash transaction closes, the statement added.

“Having determined the future ownership of Maersk Tankers, we have taken yet an important step [sic] in our strategy to free up resources and focus future growth in A.P. Moller-Maersk on container shipping, ports and logistics,” A.P. Moller-Maersk CEO Søren Skou said.

The sale is the latest in a series of restructuring steps the Danish conglomerate has taken in recent months. In August, it agreed to sell its E&P arm, Maersk Oil, for USD 7.45 billion to France’s Total.

Maersk Tankers commands a fleet of 161 tankers and employs about 3,100 people globally.

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