The Danish shipping conglomerate on Tuesday completed the sale of its shares in its Maersk Tankers subsidiary to APMH Invest, a subsidiary of A.P. Moller Holding.
Danish shipping conglomerate A.P. Moller-Maersk on Tuesday completed the sale of its shares in its Maersk Tankers subsidiary to APMH Invest, a subsidiary of A.P. Moller Holding.
A.P. Moller-Maersk signed off on the agreement on Sept. 20.
The accounting impact of the transaction will be immaterial and will not have any impact on A.P. Moller-Maersk’s financial guidance for 2017, the conglomerate said.
The sale of Maersk Tankers marks another step in A.P. Moller-Maersk’s plan to free up resources and focus future growth on container shipping, ports and logistics, A.P. Moller-Maersk CEO Søren Skou explained.
Back in August, the conglomerate signed an agreement to sell Maersk Oil to French energy giant Total. The deal is expected to close during the first quarter 2018 and has an effective date of July 1, 2017, Total said back in August.
A.P. Moller-Maersk said that structural solutions for its remaining companies under the energy division – Maersk Drilling and Maersk Supply Service – remain to be defined before the end of 2018.
A.P. Moller-Maersk finalizes sale of oil tanker unit
