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A. P. Moller - Maersk To Buy Project Logistics Specialist Martin Bencher In $61 Mln Deal

Danish container logistics company A.P. Moller - Maersk A/S (AMKAF.PK,AMKBF.PK) announced Friday that it has reached an agreement to acquire Martin Bencher Group, a Denmark-based project logistics company.

The enterprise value of the transaction is $61 million post-IFRS 16 lease liabilities.

With the intended acquisition of Martin Bencher, Maersk will also introduce a new product, Maersk Project Logistics.

Martin Bencher is an asset-light logistics provider that specialises in project logistics, which covers the combination of solution design, special cargo transportation, and project management services. It has a presence in key locations globally through 31 offices in 23 countries, with almost 170 employees.

Maersk and Martin Bencher Group remain two separate companies until obtaining all required regulatory approvals and closing of the transaction.

Maersk expects the acquisition of Martin Bencher would enable it to deliver project logistics services with a high degree of reliability, and a strong focus on Health, Safety, Security and Environment or HSSE.

Peter Thorsoe Jensen, CEO of Martin Bencher, said, "Clients requiring project logistics are aware of the constraints and challenges facing them and are seeking strategic partners with sufficient ambitions and strength to handle their entire global supply chain now and in the years to come. Together with Maersk, we will have the scale, commitment, and capabilities to handle the entire logistics scope of work for clients around the world - as well as expand into new industries."

In Denmark, AP Moeller Maersk shares were trading at 20,600 kroner, down 6.5 percent.

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