Maersk family moved back to Svitzer’s full ownership

The Musk family has proposed a bid to regain control of Svitzer Group A/S, offering 9 billion Crona ($1.3 billion) to acquire 53% of the company that has not yet owned. The offer presented through APMH Invest A/S (Investment Division of the Family) is an all-cash transaction that evaluates Svitzer at a price of 285 Kroner per share, with a standard premium of 32%.

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Danish marine services provider Svitzer left the AP Moller-Maersk A/s about a year ago but has been working to attract significant investor interest, losing about 8% of the shares since the Nasdaq Columbia listing. APMH Invest said it believes taking the company again will better support its long-term growth.

Svitzer’s board of directors recommended an offer, and Chairman Morten Engelstoft emphasized that independent fair opinions were obtained and that all shareholders would be treated the same. Engelstoft is a veteran of various Mask companies and he will provide strong financial support and strategic directions to the Musk family to support Svitzer’s development.

APMH Invest, controlled by AP Moller Holding A/S, has confirmed its commitment to retaining Svitzer’s long-term investor commitments without plans to sell or unload the stock. The deal has received support from investors who account for about 61% of Sveser’s equity.

AP Moller Holding, led by Robert Maersk Uggla, manages investments in various fields, including the world’s second largest transportation line and AP Moller-Maersk of Danske Bank A/S. The holding company controls assets worth over 800 billion Crona, enhancing its ability to guide Svitzer’s future growth under private ownership.