AP Moller Holding to acquire Svitzer for $1.3bn.

AP Moller Holding, a privately held investment company, agreed to acquire Svitzer, a Denmark-based global towage and marine services provider, for $1.3bn. “Since Svitzer was listed, the company has consistently delivered results above expectations. However, we have not seen this reflected in the valuation of the share, which means that the listing has not offered a foundation from which Svitzer can grow. We therefore believe that Svitzer is better supported through private ownership and that, with the financial support of A.P. Moller Holding, the company will be better positioned to strengthen its market position and capitalize on the opportunities in the market,” Martin Larsen, A.P. Moller Holding CFO.