CIMC terminates purchase of Maersk Container Industry

On August 25, A.P. Moller - Maersk (Maersk) and China International Marine Containers Ltd. (CIMC) announced the termination of the previously announced transaction whereby CIMC would acquire Maersk Container Industry (MCI), a leading manufacturer of refrigerated containers, from Maersk. The parties agreed to terminate the agreement because of significant regulatory challenges preventing the closing of the transaction.
 

The intended divestment was announced on 28 September 2021 and was expected to close in 2022. As a part of the closing process, the transaction was subject to regulatory approvals.
 

"It is unfortunate that the transaction will not happen despite efforts of all parties involved. Throughout the process MCI has performed very well thanks to the dedication of all its employees. Maersk will continue to be a proud owner of MCI for the foreseeable future, and we will now assess the best structural set-up for MCI to ensure the long-term development of the business." says Patrick Jany, CFO at A.P. Moller - Maersk.

Founded by Maersk in 1991, MCI has been a part of the company for more than 30 years. Over the years, it has transformed into a business focusing entirely on manufacturing refrigerated containers. Today, MCI employs 2,300 people in China and Denmark.

Source: Maersk