Maersk family plans to take part of company private

The Maersk-McKinney family plans to take part of A.P. Møller-Maersk private and to have more input in the running of their shipping company, Splash 24/7 reported.

In September, the group announced plans to split in two, with one company focused on transport and logistics and the other on oil and tankers. The second company “is likely to be sold off,” the Splash 24/7 report said.

According to the report, a statement from Ane Maersk McKinney Uggla, third-generation chairman of A.P. Møller Holding and vice chairman of the board of Møller-Maersk said that A.P. Møller Holding. founded in 2013, “intends to own -- partly or as a majority shareholder -- several of the Maersk-related activities directly.” The transfer will take place over the next few years, the report said.

The statement said the holding company also plans to continue building new businesses, Splash 24/7 reported.

Uggla’s son Robert, 38, runs the holding company. Later this year, former SAP CEO Jim Hagemann Snabe will replace Maersk’s long-time chairman Michael Pram Rasmussen, the article said.

Maersk reported a net loss of $1.9 billion for 2016, the report noted.  (Source: Splash 24/7, Feb. 16, 2017.)