The DOF Group has confirmed that it has entered into an agreement to acquire Maersk Supply Service (MSS) to further enhance its position as a major integrated offshore services provider. Through the newly incorporated subsidiary DOF Offshore Holding Denmark, DOF will on certain terms and conditions acquire all the shares in Maersk Supply Service from Maersk Supply Service Holding (MSSH), a subsidiary of A.P. Møller Holding.
The acquisition will be paid partly in cash and partly in new shares to be issued by DOF, representing a consideration of approximately US$1.112 billion (as of close on June 28, 2024). After issuance of the consideration shares, MSSH will hold 25 per cent of the share capital in DOF.
At the time of completion of the transaction, MSS will own 22 high-quality subsea construction and AHTS vessels, following a carve-out of certain entities, vessels, assets, and liabilities. The combined company, operating under the DOF Group name and brand, will be an offshore service provider with comprehensive scale and a wide range of services across all continents in the offshore energy industries.