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DOF Group has entered into an agreement to acquire Maersk Supply Service

DOF Group ASA (DOF) announced in July 2024 that it had entered into an agreement to acquire Maersk Supply Service A/S (MSS) to further enhance its position as a major integrated offshore services provider.

Through the newly incorporated subsidiary DOF Offshore Holding Denmark ApS, DOF will acquire all the shares in Maersk Supply Service A/S from Maersk Supply Service Holding A/S (MSSH), a subsidiary of A.P. Møller Holding A/S (A.P. Moller Holding).

The acquisition will be paid partly in cash and partly in new shares to be issued by DOF, representing a consideration of approximately USD 1.112 billion (as of close on 28.6.2024).

The combined company, operating under the DOF Group name and brand, will be a leading offshore service provider with comprehensive scale and a wide range of services across all continents in the offshore energy industries.

DOF and MSS’ current operations are both strategically and geographically complementary, and future growth ambitions are strongly aligned.

Leveraging the two global organisations’ strong capabilities and competencies that will further enhance the combined company’s position as a major integrated offshore services provider.

The combined company will be one of the largest oil services companies listed on the Oslo Stock Exchange.

The move further strengthens DOF Group’s integrated service offering and position, towards a strong oil and gas market and a growing offshore wind market

Immediate fleet expansion will be possible without need for substantial newbuild lead time, and with significantly lower per vessel investment requirement

The modern and high-quality fleet of 22 vessels consists of eight high-specification CSV vessels, 13 high-specification AHTS vessels and one cable layer vessel

DOF Group has a total fleet of 65 owned vessels, and this is a strong fleet among core players in the competitive landscape, and reducing the value weighted fleet age from 11.7 years to 10.7 years

Ships Montly - January 2024

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