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Maersk Drilling to be demerged from AP Moller - Maersk, listed on Nasdaq Copenhagen

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Maersk Drilling is to be demerged from parent AP Moller – Maersk and separately listed on Nasdaq Copenhagen.

AP Moller – Maersk announced it was initiating the demerger of Maersk Drilling from parent with the signing and publication of statutory documents anticipated to take place on 4 March this year, with the demerger proposed at AP Moller – Maersk’s agm on 2 April 2019.

Should shareholders approved the demerger Maersk Drilling would then be listed on Nasdaq Copenhagen on 4 April this year.

Shares in Maersk Drilling would be issued on a pro-rata basis to shareholders of AP Moller – Maersk with one share in Maersk Drilling per nominal A.P. Moller - Maersk DKK500 share and two shares in Maersk Drilling per nominal A.P. Moller - Maersk DKK1,000 share. AP Moller – Maersk has agreed to a 360-day lock-up on its shares in Maersk Drilling.

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Maersk Drilling ceo Jørn Madsen and cfo Jesper Ridder Olsen, who will serve on the executive management team in the future listed company.

“The demerger will create a listed Danish-based offshore drilling company with a clear investment profile and long-term development prospects. Maersk Drilling is well-positioned to capitalise 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", said Claus V. Hemmingsen, vice ceo of AP Moller - Maersk and chairman of the Maersk Drilling board of directors.

The move to demerge Maersk Drilling is one of the last pieces of a jigsaw initiated from a restructuring announced in September 2016 with AP Moller – Maersk to focus on transport and logistics and solutions to be found its oil and energy businesses.

Read more: AP Moller - Maersk splits in two: separating transport & logistics and energy

Maersk Oil was sold to Total for $7.45bn, while Maersk Tankers was acquired by AP Moller Holding for $1.17bn. AP Moller - Mearsk said its annual results that it was still searching for a long term solution for offshore vessel owning arm Mearsk Supply Services.