Petroleum Africa
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Tuesday, August 21, 2018
AP Moller-Maersk is moving forward with a demerger of its drilling unit, Maersk Drilling. The demerger is being pursued via a separate listing of the drilling unit on Nasdaq Copenhagen in 2019.
A company statement said that after evaluating different options for Maersk Drilling, it concluded that the listing of Maersk Drilling as a standalone company presented the most optimal prospects for its shareholders, offering them the opportunity to participate in the value creation of an industry leading pure play offshore drilling company with long-term development prospects.
Maersk Drilling has achieved an industry leading backlog of $2.7 billion with long-term customer relations counting some of the world’s most successful and innovative oil and gas companies.
Competitive long-term debt financing of $1.5 billion has been secured from a consortium of international banks to ensure a strong capital structure after a listing.
In a demerger, Maersk Drilling will continue to operate under the name ‘Maersk Drilling’, on which its global leading market position is built and recognized, using the A.P. Moller – Maersk seven-pointed star-logo as part of its brand
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