Danish shipping giant AP Moller Holding has made an all-cash offer of DKR 9.0bn crowns (£1.0bn) for towage and marine service provider Svitzer, representing a 31.7% premium to the stock's closing price on Tuesday.
A.P. Moller - Maersk AS
02 April 2025 10:23:53
Source: Sharecast
APMH, which controls AP Moller-Maersk, spun off Svitzer in April 2024 and already holds a 47% stake in the business.
However, APMH stated Svitzer's stock market listing had failed to result in the expected investor interest, and said a delisting and private ownership would now better support the company's continued growth, which it considers to be essential for maintaining Svitzer's market position in "a competitive and fragmented industry undergoing consolidation".
"Under AP Moller Holding's ownership, Svitzer will remain an independent company with unchanged management, strategy, name and brand," said APMH.
As of 1020 BST, APMH shares were down 0.50% at DKK 11,995 each.
Reporting by Iain Gilbert at Sharecast.com
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