Maersk Supply Service's ship

Maersk Supply Service's ship (Photo: Maersk Supply Service)


A.P.Moller - Maersk has agreed to divest Maersk Supply Service (MSS), a worldwide provider of offshore marine services and project solutions to the energy industry, to A.P. Moller. Moller Holding, the parent company of A.P. Group. Moller.

Maersk launched a new combined transit strategy in 2016, as well as the current division of energy-related operations. Maersk Tankers, Maersk Oil & Gas and Maersk Drilling were all sold between 2017 and 2019. The final divestment of energy-related operations will close on April 20 with the planned sale of the company. Maersk Supply Service.

Maersk Supply Service will continue to operate under its current name and will incorporate the Maersk seven-pointed star logo into its brand.

According to a statement, the deal involves a state-of-the-art wind power installation vessel that, upon completion, will make Maersk Supply Service a leading supplier of offshore wind power.

"The capacity and vessels Maersk Supply Service has built up over 50 years to support the oil and gas energy industry are essential in the offshore renewable energy sector, particularly in the wind energy industry. As new owners, we will accelerate the transformation of Maersk Supply Service over time into a leading offshore marine company serving the offshore wind industry. this ends the separation of energy-related activities from A.P. Moller – Maersk as initiated in 2016," Martin Larsen, chief financial officer at A.P. Moller Holding.

The value of the transaction is USD 685 million (enterprise value), corresponding to an EV/EBITDA coefficient of 27.4 times based on EBITDA for the whole year 2022. Until all regulatory approvals are received binding and closing the transaction, Maersk Supply Service will remain a subsidiary of A.P. Moller – Maersk A/S and run the business independently as usual.

 

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Source: Phaata.com (According to Maersk)

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