Imagine a bustling boardroom in Norway where the high-stakes world of supply shipping and marine services converges. On a seemingly ordinary Tuesday, the Norwegian supply shipping titan, DOF Group, dropped a bombshell that set the industry abuzz: a deal to acquire offshore marine service provider Maersk Supply Service (MSS) for a cool $1.11 billion in a dynamic cash and stock transaction.
In this meticulously crafted agreement, DOF is poised to pay $577 million in cash while simultaneously issuing fresh shares. Post-transaction, Maersk Supply Service Holding (MSSH), will hold a substantial 25% of DOF’s shares. This strategic maneuver will be orchestrated through DOF’s newly minted subsidiary, DOF Offshore Holding Denmark ApS, solidifying the fusion of these maritime powerhouses.
Financing this ambitious voyage involves a strategic mix of a $500 million debt facility and an equity raise of up to $125 million. However, this transaction excludes MSS’ operations in Brazil, keeping that piece of the puzzle separate from the grand merger.
Mons Aase, the captain at DOF’s helm, hailed this transaction as a significant landmark, emphasizing the strategic alignment and shared vision with A.P. Moller Holding, now an influential stakeholder. His words resonated with the industry, highlighting the transformative impact this deal is expected to bring.
(Source: Offshore Engineer Magazine | XM | Reuters)
