Milbank Advises in Connection with Separation and Listing of Svitzer Group A/S, A.P. Møller-Mærsk’s Towage and Marine Services Activities

Milbank LLP advised the joint global coordinators and managers, consisting of Citigroup, Danske Bank, Nordea, SEB, BNP PARIBAS and HSBC, in connection with the demerger of Svitzer Group A/S (“Svitzer”) from A.P. Møller-Mærsk A/S and its listing on Nasdaq Copenhagen. On its first day of trading, Svitzer achieved a market capitalization of DKK 6 billion.

Svitzer is a global towage and marine services provider, the core business of which is to assist large seaborne vessels in maneuvering in and out of ports and terminals to berth and unberth. With more than 450 vessels, Svitzer’s services play a crucial role as part of critical port infrastructure. Svitzer was founded in 1833 and serves approximately 2,000 customers in more than 140 ports and 40 terminals across 37 countries.

The Milbank team was led by Corporate Finance and Securities partner David Dixter and associates Kristian Sutt and Panos Tsezos.