Norway’s DOF Group has announced a deal to acquire Maersk Supply Service for approximately $1.1 billion, further consolidating the offshore service sector with a focus on the oil and gas industry. This acquisition comes just a year after A.P. Moller-Maersk sold the company to A.P. Moller Holding, marking a significant step in the industry’s restructuring efforts.
As part of the agreement, DOF will pay $577 million in cash and issue new shares to A.P. Moller Holdings, making them a 25 percent owner of the combined company. The deal includes the purchase of Maersk Supply Service and 22 vessels, expanding DOF Group’s fleet to a total of 65 owned vessels and 78 offshore/subsea vessels.
The combined entity, to be known as DOF, is set to become one of the largest oil service companies listed on the Oslo Stock Exchange, with an estimated market capitalization of $2.3 billion. DOF CEO Mons Aase emphasized that the merger will enhance customer experience through increased scale, global reach, and industry-leading services, positioning the company as a major integrated service provider for the energy industry.
In a strategic move, Maersk Supply Service’s offshore wind sector has been separated from the deal, with plans to collaborate with Louisiana-based Edison Chouest Offshore for the offshore wind business. A.P. Moller Holding has also announced the launch of Maersk Offshore Wind to oversee operations in this sector, with an installation vessel expected to be operational by mid-2025. This development marks a significant shift for Maersk Supply Service, which has been adapting to market conditions by reorganizing its operations and focusing on the offshore wind and energy sectors.
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