Maersk secures 51 pct stake in South Africa’s Grindrod
A. P. Moller – Maersk has lined up an investment in South Africa’s Grindrod as it looks to boosts its logistics capabilities in the country.
Through this proposed joint venture, the logistics activities of Grindrod Intermodal business and the ocean activities of Ocean Africa Container Lines (OACL) will complement Maersk’s current Ocean capabilities and Logistics & Services, enabling customers seamless access to a wider range of end-to-end supply chain solutions. Maersk will have a 51 percent share in this proposed joint venture which will increase access to landside infrastructure and capabilities which are critical to delivering reliable logistics solutions.
“We are looking forward to partnering with Grindrod in this proposed joint venture, so that we can offer our customers even better value and true end-to-end integrated logistics solutions in South Africa. We will have a far greater ability to seamlessly integrate solutions between ocean and the landside whilst weaving into our organisation an increased capability and experience through colleagues from Grindrod, who has long held a strong reputation in the landside logistics space,” said Jonathan Horn, Maersk Southern Africa and Islands Area managing director.
Bringing together logistics operations skills and capabilities under this new proposed joint venture will create a base for growth and enable Maersk to excel in the Logistics & Services products execution through better serving customers via intermodal solutions in trucking, rail, depots, warehousing, and ocean feedering.
Customers looking for end-to-end solutions in South Africa will continue to work with Maersk, however after closing most of the landside execution will be done by the proposed new joint venture.
The transaction is subject to obtaining regulatory approvals, including required competition law approvals. The new organisation will be formed and go live within a few weeks of approval being granted by relevant regulators. Until then both companies remain separate and will continue to conduct their businesses independently.