A.P. Moller Holding has agreed to acquire 100% of Oslo-based ship leasing company Ocean Yield from funds managed by investment firm KKR, expanding its maritime portfolio.Ocean Yield has interests in more than
A.P. Moller Holding has agreed to acquire 100% of Oslo-based ship leasing company Ocean Yield from funds managed by investment firm KKR, expanding its maritime portfolio.
Ocean Yield has interests in more than 70 vessels across several shipping segments, including gas carriers, LNG carriers, container ships, crude, product and chemical tankers, and dry bulk carriers.
Under KKR's ownership since 2021, Ocean Yield has invested more than $3 billion to expand its portfolio, diversify its investment-grade customer base and nearly double its long-term contracted backlog to more than $5 billion, the companies said.
The financial details of the transaction were not disclosed.
“We are impressed by Ocean Yield’s performance and its management team. We believe that combining Ocean Yield’s compelling platform with our century-long experience in the maritime industry will create a strong partnership. In addition, we see Ocean Yield’s business model, with its stable cash flow, as an excellent complement to our existing maritime portfolio,” said Martin Larsen, CFO of A.P. Moller Holding.
“Since 2021, we have strengthened Ocean Yield as a globally diversified maritime leasing platform with long-duration, high-quality contracted cash flows and a modern fleet positioned for the energy transition. Under private ownership, we have been able to
Content Original Link:
" target="_blank">
