A.P. Møller Holding has entered into an agreement to combine its subsidiary Maersk Supply Service A/S with Norwegian DOF Group ASA (DOF Group). From now on, 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 merging of the companies takes place by DOF Group buying all the shares in Maersk Supply Service A/S in part with a payment of DKK 557 million. USD. and partly through the issue of new shares in the new DOF companies, the transaction totals approx. 1.1 billion USD. After the issue of the new shares, A.P. Møller Holding will own 25 per cent. of the share capital in DOF. The deal is expected to be completed 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 wide 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 remains a committed owner and ensures the combined company's continued development, says Martin Larsen, who is CFO of A.P. Møller Holding and chairman of the board of Maersk Supply Service and Maersk Offshore Wind.
Offshore wind activities are separated
However, not all activities under Maersk Supply Service will be transferred to the new company. Thus, the activities within offshore wind installation remain owned by A.P. Møller Holding as a new independent offshore maritime company with the name Maersk Offshore Wind.
- Based 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 this, 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 approx. 30 per cent.
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