MAERSK has announced its US$987 million divestment agreement with China International Marine Containers has fallen through.
In September last year, A.P. Moller – Maersk confirmed CIMC was to buy Maersk Container Industry, a manufacturer of refrigerated containers.
The intended divestment was expected to close this year, but the agreement has instead been terminated due to “significant regulatory challenges preventing the closing of the transaction”.
A.P. Moller – Maersk chief financial officer Patrick Jany said it was unfortunate the transaction would not happen despite the efforts of those involved.
“Throughout the process MCI has performed very well thanks to the dedication of all its employees,” Mr Jany said.
“Maersk will continue to be a proud owner of MCI for the foreseeable future, and we will now assess the best structural set-up for MCI to ensure the long-term development of the business.”
Maersk Container Industry was founded by Maersk in 1991 and employs 2300 people across China and Denmark.
