A.P. Møller Holding has entered into an agreement to combine its subsidiary Maersk Supply Service A/S with the Norwegian DOF Group ASA (DOF Group). In future, the company will be called DOF Offshore Holding Denmark and the goal is to create a leader in support for the offshore oil and gas industry.
Specifically, the merger of the companies will take place by DOF Group purchasing all the shares in Maersk Supply Service A/S partly for a payment of 557 million USD. and partly by issuing new shares in the new DOF company. The total transaction amounts to approximately 1.1 billion USD. After the issuance of the new shares, A.P. Møller Holding will own 25 percent of the share capital in DOF. The deal is expected to close by the end of 2024, according to a press release.
- Together with DOF Group, we will create a leading offshore service provider for the oil and gas industry, offering unique scale and a broad range of services in key markets. The combined company is committed to maintaining a solid presence in Denmark. As the largest shareholder in the combined company, A.P. Moller Holding will remain a committed owner and ensure the combined company's continued development, says Martin Larsen, CFO of A.P. Møller Holding and Chairman of the Board of Directors of Maersk Supply Service and Maersk Offshore Wind.
Offshore wind activities to be separated
However, not all activities under Maersk Supply Service will be transferred to the new company. Thus, the activities within offshore wind installation will remain owned by A.P. Møller Holding as a new independent offshore maritime company called Maersk Offshore Wind.
- Building on our long-standing position in the offshore industry combined with our ambition to contribute to the transition to green energy, we have separated Maersk Supply Services' offshore wind installation business into an independent entity. By doing so, we aim to accelerate the implementation of its innovative installation concept, which meets the industry's need for a faster installation process, says Martin Larsen.
Maersk's offshore wind turbine installation concept is expected to reduce the number of days required to install an offshore wind farm by approximately 30 percent.
Text, graphics, images, sound, and other content on this website are protected under copyright law. DK Medier reserves all rights to the content, including the right to exploit the content for the purpose of text and data mining, cf. Section 11b of the Copyright Act and Article 4 of the DSM Directive.
Customers with IP agreements/major customer agreements may only share Danish Offshore Industry articles internally for the purpose of handling specific cases. Sharing in connection with specific cases refers to journaling, archiving, or similar uses.
Customers with a personal subscription/login may not share Danish Offshore Industry articles with individuals who do not themselves have a personal subscription to Danish Offshore Industry.
Any deviation from the above requires written consent from DK Medier.
