With new ownership structures in place for three out of four of the oil and oil-related businesses, AP Moller–Maersk has reached a milestone in its strategy to become a focused, integrated transport and logistics company, reports Steel Guru.
Demerging AP Moller–Maersk
With the Board of Directors’ decision to demerge AP Moller–Maersk and list Maersk Drilling as an independent company on Nasdaq Copenhagen, the shareholders of AP Moller–Maersk get the opportunity to take part in the future value creation of Maersk Drilling.
First day of trading of the Maersk Drilling share is expected to be 4 April 2019, subject to shareholder approval of the demerger at the AP Moller – Maersk Annual General Meeting on 2 April 2019.
Leader in the global offshore drilling market
Mr Claus V Hemmingsen, Vice CEO of AP Moller–Maersk and Chairman of the Maersk Drilling Board of Directors, said Maersk Drilling is an industry leader in the global offshore drilling market, based on its well-reputed and safe operations and a fleet that is among the youngest and most advanced in the industry.
He added that the demerger will create a listed Danish-based offshore drilling company with a clear investment profile and long-term development prospects.
Maersk Drilling is equipped to capitalize on the value creation opportunity of a globally leading pure play offshore drilling company to the benefit of both its long-term blue-chip customer base, as well as its investors.
The demerger and separate listing of Maersk Drilling
1. In the demerger of AP Moller – Maersk, Maersk Drilling will be separated out and established as a new, independent company. The shares in the new company will then be admitted for trading and official listing on Nasdaq Copenhagen.
2. Subject to approval of the demerger at the AP Moller – Maersk Annual General Meeting, the shares in Maersk Drilling will be distributed to A.P. Moller – Maersk shareholders, who in addition to their shareholding in AP Moller – Maersk will become shareholders in Maersk Drilling.
3. Although Maersk Drilling will be separated from AP Moller – Maersk, the company will continue to operate under the name Maersk Drilling and use the seven-pointed star as part of its identity. However, the independently listed company will have the legal name ‘The Drilling Company of 1972 A/S’.
Did you subscribe to our daily newsletter?
It’s Free! Click here to Subscribe!
Source: Steel Guru
