A.P. Moller – Maersk and China International Marine Containers (CIMC) have announced that the previously announced transaction has been terminated, whereby CIMC would acquire Maersk Container Industry (MCI), a manufacturer of refrigerated containers, from the Danish carrier.
The reason the deal has stalled is because of significant regulatory challenges preventing the transaction from closing.
The proposed divestiture was announced on 28 September 2021 and was expected to close in 2022.
“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,” said Patrick Jany, CFO at A.P. Moller – Maersk.
MCI was founded by Maersk in 1991 and today employs 2,300 people in China and Denmark. Over the years, it has evolved into a company that focuses exclusively on manufacturing of refrigerated containers.
