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Denmark's A P Moller-Maersk to split up into transport, energy divisions

Thursday, September 22, 2016 - 15:22

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Danish shipping and oil conglomerate A P Moller-Maersk said on Thursday it will separate its businesses into separate transport and energy divisions in a bid to better tackle the problems facing its struggling businesses.

[COPENHAGEN] Danish shipping and oil conglomerate A P Moller-Maersk said on Thursday it will separate its businesses into separate transport and energy divisions in a bid to better tackle the problems facing its struggling businesses.

The focus will be on establishing an integrated transport and logistics company, while its oil and oil-related business will either individually or in combination be separated from the company, Maersk said.

The 112-year-old group said in June it had asked new chief executive Soren Skou to look into potentially breaking up the group, whose shipping and energy operations are both struggling.

REUTERS

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