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.

"Maersk divesting the two sites is a consequence of the company’s decision made in March 2022 to discontinue activities in Russia," says an official release.

Both the companies have not disclosed the financial details of the transaction.

"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," says Karsten Kildahl, Chief Commercial Officer, Maersk. "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 m2 with a capacity of 1,500 containers (TEUs) and specialises in handling commercial cargo such as grains from railway wagons to sea containers. The chilled and frozen warehouse in St. Petersburg is 23,500 m2 established in 2020, the release added.

"The transaction has obtained the needed regulatory approvals in the EU and Russia, and upon acquiring the facilities, IG Finance Development has made an agreement with Arosa, a large food importer in Russia, to operate the sites in St. Petersburg and Novorossiysk."

The divestment is closed and effective as of February 17, 2023 as no further approvals are needed, the release added.