2 July 2024
A.P. Moller Holding combines Maersk Supply Service with DOF Group to create a leading offshore service provider and creates Maersk Offshore Wind to separately focus on accelerating its offshore wind installation business
A.P. Moller Holding has entered into an agreement to combine its subsidiary Maersk Supply Service A/S with Norwegian DOF Group ASA (DOF Group) to create a leader supporting the offshore oil and gas industry. Maersk Supply Service’s innovative wind offshore installation concept will remain owned by A.P. Moller Holding as an independent offshore maritime company named Maersk Offshore Wind, focusing the growing global offshore wind installation market.
Subject to customary conditions and regulatory approvals, DOF Group will acquire all shares in Maersk Supply Service A/S partly with payment in cash and partly by issuing new DOF shares. After closing of the transaction, A.P. Moller Holding will indirectly hold 25 % of the share capital in the combined company, which will operate under the DOF Group name and brand and be headquartered in Norway. The transaction is expected to be completed by end 2024.
“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 across key markets. The combined company is committed to keep a solid footprint in Denmark. As the largest shareholder in the combined company, A.P. Moller Holding will remain an engaged owner, ensuring the combined company’s continued development.”
“Drawing on our long-standing position in the offshore industry, combined with our ambition to contribute to the shift to green energy, we have separated Maersk Supply Services’ offshore wind installation business into an independent unit. By doing so, we aim to accelerate the implementation of its innovative installation concept that meets the industry’s need for faster installation process.”
Maersk Supply Service’s offshore wind turbine installation business will operate under the name Maersk Offshore Wind. Michael Reimer Mortensen has been appointed CEO of Maersk Offshore Wind.
The offshore wind turbine installation concept is projected to reduce the number of days required to install an offshore wind park with app. 30 %. The special designed and patented offshore Wind Installation Vessel (WIV) is developed to be permanently stationed at the wind farm to carry out successive installations, while purpose-built tugs and barges shuttle back and forth with the wind turbine components from the load-out port.
The first Maersk WIV is currently under construction and is expected to be delivered in 2025 for the installation of Empire Offshore Wind, owned by Equinor.
News from the A.P. Moller Group
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A.P. Moller Holding announces a recommended public cash offer to the shareholders of Concentric
A.P. Moller Holding’s wholly-owned subsidiary Circle Bidco ApS has announced a recommended public cash offer to acquire Concentric AB, a Swedish provider of flow control and fluid power technology for the commercial vehicle market, listed on Nasdaq Stockholm. The offer of SEK 230 in cash per share in Concentric has been unanimously recommended by the Board of Directors in Concentric, and is backed by shareholders in Concentric together controlling 16.7 percent of the outstanding shares in the company.
A.P. Moller invests in Tenderd
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Chetan Mehta, Head of Growth Equity at A.P. Moller Holding, said: “Tenderd is a leader within telematics solutions with a platform that offers real-time visibility and insights for heavy equipment across a range of industries. Their solutions enhance operational efficiencies, improve safety and mitigate carbon emissions. We are excited to be investing in Tenderd and we look forward to contributing to their continued growth.”