A.P. Moller-Maersk, a shipping and logistics company, announced on Monday that it has reached an agreement to sell IG Financial Development LLC its two logistics facilities in Russia, effectively ending its operations there.
The company claimed that regulatory permissions in the Russian Federation and the European Union had been gained for the sale of its chilled and frozen warehouse in St. Petersburg as well as its 1,500 TEU capacity inland storage facility in Novorossiisk.
Chief Commercial Officer Karsten Kildahl stated in a statement, “We are glad to have found a new owner of our two logistics locations in Russia and therefore execute on our commitment to divest all our assets in the country.
According to Maersk, IG Financial Development, a Cyprus-registered business, has a contract to run the sites with Arosa, a significant Russian food importer.
According to a representative for Maersk, the sale of four tugboats under the Svitzer brand is still pending. Maersk won’t conduct any business in Russia after that.
The largest container operator in Russia, Delo Group, purchased a 30.75% share in Global Ports Investments from Maersk in August of last year.