A.P. Moller-Maersk to sell two logistics sites in Russia as part of full withdrawal
Date
2/21/2023 1:48:58 AM
(MENAFN) Danish shipping and logistics company A.P. Moller-Maersk has made the decision to sell its two logistics sites in Russia as part of its efforts to withdraw from the country completely. The company has agreed to sell an inland depot in Novorossiysk, with a capacity of 1,500 containers, and a chilled and frozen warehouse in St. Petersburg to Cyprus-registered company IG Finance Development. The sale has received regulatory approval in both the European Union and Russia.
In a press release, the company's Chief Commercial Officer, Karsten Kildahl, stated that Maersk is pleased to have found a new owner for its logistics sites in Russia, enabling the company to execute its plan to divest all of its assets in the country. The logistics sites will now be operated by Arosa, a large food importer in Russia, under an agreement with IG Finance Development.
Maersk's decision to sell its logistics sites in Russia comes after the company announced in March last year that it would stop taking new non-essential orders to and from Russia due to Western sanctions. This move was followed by the sale of a 30.75 percent stake in Russian port operator Global Ports Investments to Russia's largest container operator, Delo Group, in August of the same year.
It remains to be seen how Maersk's complete withdrawal from Russia will impact its business, particularly in the transportation of goods to and from the country. However, the company's decision to divest its assets in Russia is in line with its broader strategy of focusing on its core business and simplifying its operations.
MENAFN21022023000045014146ID1105606828
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.