Sharpening Its Focus, Maersk Agrees to Sell Tanker Business for $1.17 Billion -- WSJ
21 Septiembre 2017 - 4:30AM
Noticias Dow Jones
The world's biggest container-ship operator sharpens focus on
core business
By Dominic Chopping and Costas Paris
This article is being republished as part of our daily
reproduction of WSJ.com articles that also appeared in the U.S.
print edition of The Wall Street Journal (September 21, 2017).
A.P. Moeller-Maersk A/S on Wednesday said it would sell its
tankers unit to its controlling shareholder for $1.17 billion, the
latest move by the Danish shipping and energy conglomerate to break
up its sprawling operations and focus on container shipping.
The sale of Maersk Tankers A/S, one of the world's largest
operators of oil tankers, follows on the conglomerate's decision a
year ago to separate its transport and energy businesses.
Under that plan, Maersk announced last month the sale of its
Maersk Oil unit to France's Total SA for $4.95 billion. It still
has its Maersk Drilling division, which operates oil and gas rigs
mainly in the North Sea, and Maersk Supply, a fleet of 44 support
ships for offshore operations, to sell or list.
Maersk Chief Executive Soren Skou said Wednesday the sale of
Maersk Tankers represents "an important step in our strategy to
free up resources and focus growth in A.P. Moeller-Maersk on
container shipping, ports and logistics."
The company is trying to reshape itself into a global
supply-chain player like United Parcel Service Inc. and FedEx Corp.
The shipping unit, Maersk Line, is the world's biggest container
operator in terms of capacity.
The tankers unit is being bought by APMH Invest A/S, a
subsidiary of A.P. Moller Holding A/S -- the controlling
shareholder of A.P. Moller-Maersk. After the sale is completed, the
buyer plans to establish a consortium with Japan's Mitsui & Co.
Ltd. to hold the tankers business.
Headed by Maersk family heir Robert Uggla, A.P. Moller Holding
is a private investment arm that controls 41.5% of Maersk shares
and 51% of shareholder votes. It also controls 20% of Danske Bank,
one of Denmark's largest financial institutions.
A.P. Moller Holding said it is looking for other acquisitions as
part of its strategy to develop a new portfolio of companies. It
recently set up A.P. Moller Capital, which will invest in
infrastructure projects.
Maersk has owned the tanker business since 1928. The unit
transports refined oil products around the world, has a fleet of
161 vessels and employs 3,100 people. Maersk said it would use the
proceeds from the sale to reduce debt.
Mitsui is one of Japan's biggest trading companies, with
interests in energy, chemicals, food, textiles, logistics and
machinery. Its assets are worth $102.7 billion and its revenue for
its most recent fiscal year was $39 billion.
Corrections & Amplifications Maersk Chief Executive Soren
Skou said Wednesday's sale represented "an important step in our
strategy." An earlier version of this article incorrectly stated
the day as Thursday. (Sept. 20, 2017)
Write to Dominic Chopping at dominic.chopping@wsj.com and Costas
Paris at costas.paris@wsj.com
(END) Dow Jones Newswires
September 21, 2017 05:15 ET (09:15 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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