Maersk Line has reached agreement with its Turkish partner Merit to purchase the latter's 40 per cent shareholding in Maersk Denizcilik, which acts as the agent for Maersk Line and Safmarine in Turkey.
The business unit will become a wholly owned entity of the AP Møller–Maersk Group.
'This decision is a further indication of Maersk Line’s commitment to the Turkish customers and the Turkish market,' said a spokesperson for the company. 'We would like to take this opportunity to extend a heartfelt thanks to our longstanding partners in Merit for their remarkable efforts in successfully establishing Maersk in Turkey. It has been many years of mutual benefits, co-operation and trust.'
The transaction is subject to the Turkey Competition Authorities' approval.
