Maersk close to full exit from Russia after sale of

Maersk close to full exit from Russia after sale of logistics sites

COPENHAGEN, Feb 20 (Portal) – Shipping and logistics group AP Moller-Maersk (MAERSKb.CO) has agreed to sell its two logistics sites in Russia to IG Finance Development Limited, it said on Monday, almost marking the end their operations in the country.

The group said the sale of its 1,500-container (TEU) capacity inland depot in Novorossiysk and a refrigerated and frozen storage facility in St. Petersburg had received regulatory approvals in the European Union and Russia.

“We are pleased to have found a new owner for our two logistics sites in Russia, implementing our decision to divest all of our assets in the country,” Chief Commercial Officer Karsten Kildahl said in a statement.

The container ship Vaga Maersk docks in the port of Saint Petersburg, Russia April 18, 2022. Portal/Portal Photographer

IG Finance Development, a Cyprus-registered company, has reached an agreement with Arosa, a major food importer in Russia, to operate the sites, Maersk said.

Maersk has yet to sell four tugboats under its Svitzer brand, a process that is ongoing, a spokesman told Portal. After that, Maersk will no longer have any business in Russia.

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In August last year, Maersk sold a 30.75% stake in Russian port operator Global Ports Investments (GLPRq.L) to Russia’s largest container operator Delo Group.

Reporting by Nikolaj Skydsgaard, editing by Essi Lehto, Anna Ringstrom and Louise Heavens

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