Maersk Unit Worth More Than $1 Billion Set to Trade in Spinoff
- Towage company Svitzer will demerge from Maersk on April 30
- Valuation based on Bloomberg News survey of Maersk analysts
Tugboats, operated by Svitzer A/S, assist a container ship as it arrives at the Port of Felixstowe.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
A.P. Moller-Maersk A/S is spinning off its towage company on Tuesday in a move analysts expect to slash the transportation giant’s market value by more than 5%.
Svitzer Group A/S is probably worth about $1.6 billion in enterprise value, according to the average estimate of six analysts covering Maersk surveyed by Bloomberg News. The figures they give range widely, to $2.28 billion from $1.29 billion. The equity value is estimated to be somewhat lower, at an average $1.2 billion.