SEALAND AND P&O NEDLLOYD NAMES SET TO GO AS MAERSK BUYS PONL

[proud_ionian]

DANISH shipping giant Mærsk A/S says that it is completing its acquisition of Royal P&O Nedlloyd today. It says: “All conditions to the offer have been fulfilled and payment for the tendered shares will be made today.”

A statement makes clear that the P&O Nedlloyd brand, as well as the Sealand name, will disappear next year when the fully merged carrier will operate as Maersk Line.

Maersk says Philip Green, Royal P&O Nedlloyd CEO, and David Robbie, Royal P&O Nedlloyd CFO, will step down. It adds that Mr Green will assist and work with A P Møller - Mærsk for a period during the integration but Mr 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, will assume the position of CEO of Royal P&O Nedlloyd N.V.

The statement says that P&O Nedlloyd will give notice of withdrawal to specified consortia and conferences shortly. Until February 2006 P&O Nedlloyd and Maersk Sealand will continue to operate as separate shipping lines. Maersk says: “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

πηγη: mgn