(RTTNews) – A.P. Moller Holding and KKR & Co. Inc. (KKR) have announced that they have inked a deal under which a subsidiary of A.P. Moller Holding will buy Ocean Yield, a ship leasing platform, from the funds managed by KKR. The acquisition of Ocean Yield will boost A.P. Moller Group’s maritime portfolio.
Martin Larsen, CFO of A.P. Moller Holding, said: “We believe that combining Ocean Yield’s compelling platform with our century-long experience in the maritime industry will create a strong partnership. In addition, we see Ocean Yield’s business model, with its stable cash flow, as an excellent complement to our existing maritime portfolio.”
Ocean Yield holds interests in over 70 modern vessels across several core shipping sectors, including gas carriers, container ships, LNG carriers, and others.
Post transaction, KKR will remain a partner of Ocean Yield through their joint investment in CapeOmega Gas Transportation AS.
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