DOF Group ASA (DOF) has agreed to accumulate Maersk Provide Service A/S for a complete consideration of $1.1 billion, solidifying its place as a significant built-in offshore companies supplier.
This acquisition strengthens DOF’s service portfolio and market presence within the oil and fuel and the rising offshore wind sectors. The acquisition opens doorways to quick fleet enlargement with fashionable vessels, together with high-specification CSVs and AHTS vessels, decreasing common fleet age, a joint assertion stated.
The consideration could be paid partly in money and partly via a brand new issuance of DOF shares. Following the transaction Maersk Provide Service Holding A/S, a unit of A.P. Møller Holding A/S, would maintain 25 p.c of DOF’s share capital. This transaction lowers debt and doubtlessly will increase future dividends for DOF. The mixed firm is anticipated to be one of many largest oil companies firms listed on the Oslo Inventory Alternate, the 2 firms stated.
“The introduced transaction in the present day marks a strategic milestone for the DOF Group, pushed by a robust {industry} rationale and a shared imaginative and prescient with A.P.Moller Holding, who will not directly develop into a significant shareholder”, stated DOF CEO Mons Aase. “Below the DOF title and model, we are going to create a number one offshore companies supplier and strengthen the worldwide place of the mixed firm. With the world’s largest fleet of CSVs and high-end AHTS vessels, we are going to improve the client expertise via elevated scale, international attain, and industry-leading companies, combining the robust capabilities and many years of expertise of DOF and Maersk Provide Service”.
Sure Maersk Provide Service property are excluded from the deal, together with its offshore wind set up enterprise and Brazilian operations.
Closing is anticipated within the fourth quarter of 2024. The acquisition requires approvals from numerous regulatory our bodies, DOF shareholder conferences, and the completion of share issuance, the 2 firms stated.
To contact the writer, electronic mail andreson.n.paul@gmail.com
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