As explained, Maersk Product Tankers is active in the maritime tramp vessel sector for the transport of liquid bulk products, specifically refined oil products and certain chemicals. APMH Invest is a holding company with interests in banking, infrastructure and financial investments in fixed income and securities. Mitsui is pursuing business that ranges from product sales, worldwide logistics and financing through to the development of major infrastructure and other projects.

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Under the proposed transaction, A.P. Moller Holding had announced that it would establish an ownership consortium for Maersk Tankers’ fleet with the leading global trading company Mitsui and other potential partners, in which A.P. Moller Holding will be majority shareholder.

The sale of Maersk Tankers was the second transaction as part of the strategy to separate the oil and oil related activities from A.P. Moller - Maersk. The transaction entails a market upside provision regulating total payment should the product tanker market significantly improve with a rebound in vessel values before the end of 2019. The proceeds from the transaction will be used to reduce debt.

The transaction was examined by the Commission under the simplified merger review procedure.