A.P. Moller Holding to acquire Ocean Yield from KKR
A.P. Moller Holding to Acquire Ocean Yield AS from KKR
A.P. Moller Holding has announced its agreement to acquire 100% of Ocean Yield AS from global investment firm KKR. This strategic acquisition is poised to significantly bolster A.P. Moller Holding’s existing maritime investment portfolio.
Headquartered in Oslo, Ocean Yield possesses interests in over 70 modern vessels spanning a diverse range of shipping segments. These include gas carriers, container ships, LNG carriers, crude, product and chemical tankers, and dry bulk vessels.
Since its acquisition of Ocean Yield in 2021, KKR has facilitated more than US$3 billion in investments. This support enabled Ocean Yield to successfully diversify its fleet and customer base, concurrently expanding its long-term contracted revenue backlog to exceed US$5 billion.
Martin Larsen, CFO of A.P. Moller Holding, commented on the acquisition, stating, “Ocean Yield’s stable cash flow and robust business model make it a strong complement to the group’s existing maritime portfolio.”
Andreas Røde, CEO of Ocean Yield, added, “The company has strengthened its position as a globally diversified maritime leasing platform and is well placed for its next phase of growth under A.P. Moller Holding’s ownership.”
KKR will maintain a strategic partnership with Ocean Yield through their ongoing joint investment in CapeOmega Gas Transportation AS.
The transaction is contingent upon receiving customary regulatory approvals.