Maersk Completes Oil and Gas Spin Off as Drilling Unit Lists in Copenhagen

COPENHAGEN, April 4 (Reuters) - A.P. Moller-Maersk spun off its oil and gas drilling unit and listed it separately on the Copenhagen stock exchange on Thursday, where it was traded slightly below the book value it had in Maersk's own accounts. The demerger is a part of the Danish shipping group's 2016 plan to refocus its efforts into transport and logistics, a plan that has … [Read more...]

Maersk Drilling Is Ready To Stand On Its Own Says CEO

By Nerijus Adomaitis (Reuters) - Drilling rig contractor Maersk Drilling will provide strong competition for its peers when it is spun off from the A.P. Moller-Maersk conglomerate next year, its chief executive said on Tuesday. A.P. Moller-Maersk said on Aug. 17 it would spin off its offshore drilling operation and list it in Copenhagen next year, the latest move by the … [Read more...]

Maersk’s Offloading of Drilling Unit is Latest Move to Exit Energy

By Christian Wienberg (Bloomberg) -- A.P. Moller-Maersk A/S has decided to list its drilling unit separately, marking its latest step toward a complete exit from the energy industry. Copenhagen-based Maersk, which owns the world’s biggest shipping operations and is working on turning itself into a pure transport company, said on Friday that the decision will take … [Read more...]

Maersk to Spin Off Drilling Unit, Hand Total Shares to Investors

By Jacob Gronholt-Pedersen and Stine Jacobsen COPENHAGEN, Aug 17 (Reuters) - A.P. Moller-Maersk said on Friday it would spin off its offshore drilling operation and list it in Copenhagen next year, the latest move by the Danish shipping company to focus entirely on transport and logistics. Maersk, which cut its full-year profit outlook this month, sold Maersk Oil to … [Read more...]

Maersk Said to Plan Drilling Spinoff to Focus on Transport

Update: Maersk Confirms Drilling Unit Spin-Off By Manuel Baigorri, Ruth David and Matthew Miller (Bloomberg) -- A.P. Moller-Maersk A/S is planning to spin off its drilling unit instead of pursuing a sale as the Danish conglomerate shifts focus to its transport activities, according to people familiar with the matter. The world’s biggest shipping company may announce the … [Read more...]