Austevoll, 1 November 2024: DOF Group ASA has officially closed its acquisition of Maersk Supply Service A/S, now renamed DOF Denmark A/S, after a series of strategic moves designed to bolster its market position and operational scale. The acquisition, initially announced in July, involved a combined payment structure: a substantial cash portion of USD 577 million, adjusted per the agreed locked-box account structure, along with 58,883,073 newly issued DOF shares. Additionally, a private placement, successfully launched and closed in July, contributed another USD 100 million in proceeds to finance the transaction.
This acquisition marks a transformative moment for DOF Group, as the company now expands its fleet and workforce substantially. The company will operate a fleet of 78 vessels, including 65 owned, and grow its workforce to over 5,000 employees. This growth positions DOF as a heavyweight in the offshore services sector, strengthening its offerings in oil and gas, as well as the burgeoning offshore wind market. CEO Mons Aase welcomed the integration, stating, “We would like to use this opportunity to welcome all our new colleagues to DOF. We very much look forward to collectively further developing the combined company as a global leading offshore service provider.”
DOF’s board also approved an issuance of the 58,883,073 “Consideration Shares” and an additional 2,686,591 shares earmarked for Maersk Supply Service Holding ApS (MSSH). Following this issuance, and per authorization granted at DOF’s extraordinary general meeting in July, MSSH now holds a 25% stake in DOF’s total share capital and voting rights. This brings DOF’s share capital to NOK 615,696,637.50, spread across 246,278,655 shares, each with a nominal value of NOK 2.5.
The acquisition not only enhances DOF’s scale but also solidifies its presence in key offshore markets with an expanded fleet and a stronger foundation to support future projects and market demands.
