DOF and A.P. Moller Holding have sealed an agreement to imbed Maersk Supply Service into DOF in a mix of cash and shares in the company, consideration of approximately US$ 1,1 billion and A.P. Moller Holding to underwrite 25% of the share capital in DOF.
The companies hope to complete the details of the operation until later this year, to an expanded portfolio of 78 offshore support vessels, CSVs and AHTSs as highlights.
For specific reasons the Brazilian affiliated companies of Maersk Supply Service are in principle not part of the deal.
A.P. Moller Holding has segregated as announced the offshore wind division as otherwise developed from within Maersk Supply Service (MSS) already launching the Maersk Wind business as a stand alone.
“DOF name and brand remain, MSS fades away. Makes sense. A.P. Moller Holding has evolved to become an industrial investor leveraging from the position its A.P. Moller – Maersk different operating companies built throughout decades. DOF on the other hand is the right vehicle to raise the equity and debt facility to enable the transaction. A.P.Moller to nominate two additional members to the board (vice-chairman and member of the remuneration committee) and the chairman of the nomination committee. Complex deal. Nice move. Good for both. Good for the industry”, said Alexandre Vilela, CEO of WSB Advisors.
