Maersk nears complete Russia exit after selling logistics sites

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The group said the sale of its inland depot facility in Novorossiisk, with a capacity of 1,500 containers (TEU), and a chilled and frozen warehouse in St. Petersburg had obtained regulatory approvals in the European Union and Russia.

“We are pleased to have found a new owner of our two logistics sites in Russia and thereby execute on our decision to divest all our assets in the country,” Chief Commercial Officer Karsten Kildahl said in a statement.

IG Finance Development, a company registered in Cyprus, has made an agreement with Arosa, a large food importer in Russia, to operate the sites, Maersk said.

Maersk still needs to sell four tug boats under its Svitzer brand, a process that is ongoing, a spokesperson told Reuters. After that, Maersk will not have any business in Russia.

In August last year, Maersk sold a 30.75% stake in Russian port operator Global Ports Investments to Russia’s largest container operator Delo Group.