A.P. Moller - Maersk (Maersk) and China International Marine Containers Ltd. (CIMC) today announced the termination of the previously announced transaction whereby CIMC would acquire Maersk Container Industry (MCI), a leading manufacturer of refrigerated containers, from Maersk. The parties agreed to terminate the agreement because of significant regulatory challenges preventing the closing of the transaction, according to Maersk's release.
The intended divestment was announced on 28 September 2021 and was expected to close in 2022. As a part of the closing process, the transaction was subject to regulatory approvals.
Founded by Maersk in 1991, MCI has been a part of the company for more than 30 years. Over the years, it has transformed into a business focusing entirely on manufacturing refrigerated containers. Today, MCI employs 2,300 people in China and Denmark.
A.P. Moller - Maersk is an integrated container logistics company working to connect and simplify its customers’ supply chains. As one of the global leaders in shipping services, the company operates in 130 countries and employs approximately 95,000 people.