A. P. Møller - Mærsk A/S acquisition of P&O Nedlloyd completed
11 August 2005
A. P. Møller – Mærsk A/S is pleased to announce that the acquisition of Royal P&O Nedlloyd N.V. is being completed today. All conditions to the offer have been fulfilled and payment for the tendered shares will be made today.
Management
Philip Green, Royal P&O Nedlloyd CEO, and David Robbie, Royal P&O Nedlloyd CFO, will step down. Philip Green will assist and work with A. P. Møller – Mærsk A/S for a period during the integration. David Robbie has decided to leave shortly after settlement.Eric Sisco, current Managing Director of Maersk España S.A. and Area Manager of Maersk’s Iberia and Morocco Area (Spain, Portugal, and Morocco), will assume the position as CEO of Royal P&O Nedlloyd N.V.
Commercial arrangements
P&O Nedlloyd will give notice of withdrawal to specified consortia and conferences. Until February 2006 P&O Nedlloyd and Maersk Sealand will continue to operate as separate shipping lines. This is to offer customers stability of network and services throughout the coming peak season, to keep services and network intact throughout this year, and to honour P&O Nedlloyd’s commitments to various conferences and consortia.Brand name
After February 2006, Maersk Sealand and P&O Nedlloyd will be branded under the new name of Maersk Line. Maersk Logistics and P&O Nedlloyd Logistics will be integrated under the brand name of Maersk Logistics.The full integration will be completed in stages and is expected completed by the end of 2006.
Contact person: Senior Vice President Jette Clausen, Corporate Communications, tel: + 45 33 63 35 07
