A.P. Møller - Mærsk A/S – The planned P3 Network abandoned
On 18 June 2013 A.P. Møller - Mærsk A/S (Maersk Line) announced that the company together with MSC Mediterranean Shipping Company S.A. and CMA CGM S.A. (jointly the “Partners”) had agreed in principle to establish an alliance named the P3 Network. The establishment was subject to approvals from relevant regulatory authorities.
Today, the Ministry of Commerce (MOFCOM) of the People’s Republic of China announced that they have not approved the P3 Network. The MOFCOM’s decision follows a review under China's merger control rules.
The Partners take note of and respect MOFCOM’s decision. Subsequently, the Partners have agreed to stop the preparatory work on the P3 Network and the P3 Network as initially planned will not come into existence.
The lack of implementation of the P3 Network will have no material impact on the Maersk Group’s expected result for 2014.
Copenhagen, 17 June 2014
Head of Investor Relations, Henrik Lund, tel. +45 3363 3106
Head of Media Relations, Louise Münter, tel. +45 3363 1912
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