Maersk Divests Logistics Assets in Russia
A.P. Moller - Maersk (Maersk) has entered into an agreement to divest its logistics sites in St. Petersburg and Novorossiysk to IG Finance Development Limited.
Maersk divesting the two sites is a consequence of the company’s decision made in March 2022 to discontinue activities in Russia.
Karsten Kildahl, Chief Commercial Officer of Maersk said: "We are pleased to have found a new owner of our two logistics sites in Russia and thereby execute on our decision to divest all our assets in the country.
"Throughout the divestment process, we have as a company felt a strong responsibility towards the remaining 50 employees at the two sites, and we are happy that they will be offered employment as part of the new setup."
The inland depot in Novorossiysk is a facility of 28,750 sq mtrs with a capacity of 1,500 containers (TEU) and specializes in handling commercial cargo such as grains from railway wagons to sea containers. The chilled and frozen warehouse in St. Petersburg is a 23,500 sq mtrs established in 2020.
The transaction has obtained the needed regulatory approvals in the EU and Russia, and upon acquiring the facilities IG Finance Development Limited has made an agreement with Arosa, a large food importer in Russia, to operate the sites in St. Petersburg and Novorossiysk.
As no further approvals are needed, the divestment is closed and effective as of 17 February 2023.