MAERSK DRILLING TO BECOME A STAND ALONE COMPANY

August 17, 2018

A.P. Moller – Maersk has decided to pursue a separate listing of Maersk Drilling on Nasdaq Copenhagen A/S in 2019.
Having evaluated the different options for Maersk Drilling, A.P. Moller – Maersk has concluded that listing Maersk Drilling as a standalone company presents the most optimal and long-term prospects for its shareholders, offering them the possibility to participate in the value creation opportunity of a globally leading pure play offshore drilling company with long-term development prospects.
The process has been initiated to ensure that Maersk Drilling is operationally and organisationally ready for a listing in 2019. As part of the preparation, debt financing of USD 1.5bn from a consortium of international banks has been secured for Maersk Drilling to ensure a strong capital structure after a listing. Further details for a listing will be announced at a later stage.
The decision on the future of Maersk Drilling marks a milestone in the business transformation of A.P. Moller – Maersk towards becoming an integrated transport & logistics company as announced on 22 September 2016.
The target was set to find new viable solutions for the oil and oil related businesses within 24 months. During the past two years solutions for Maersk Oil and Maersk Tankers have been found and today the plan to list Maersk Drilling is announced.
For Maersk Supply Service, the pursuit of a solution will continue. However due to challenging markets, the timing for defining a solution is difficult to predict.
Chairman of the A.P. Moller – Maersk Board of Directors, Jim Hageman Snabe says:
“The Maersk Drilling team has done a remarkable job operating the business at a time of high uncertainty and is well positioned to become a successful company on Nasdaq Copenhagen. The announcement of the intention to list Maersk Drilling completes the decision process on the structural solutions for the major oil and oil related businesses. Yet another important step in delivering on the strategy.” (Source and image: Maersk/Maersk Viking UDW drillship)