A P Moller - Maersk has announced plans to enter into a joint venture with Grindrod Limited that will see the company acquiring a 51% share of the business.
“Through this proposed joint venture, the logistics activities of Grindrod Intermodal business and the ocean activities of Ocean Africa Container Lines (OACL) will complement Maersk’s current ocean capabilities and logistics services, enabling customers seamless access to a wider range of end-to-end supply chain solutions,”according to a statement released by the line.
“Bringing together logistics operations skills and capabilities under this new proposed joint venture will enable Maersk to serve its customers via intermodal solutions in trucking, rail, depots, warehousing, and ocean feedering,” says Maersk Southern Africa and Islands Area managing director, Jonathan Horn.
CEO Grindrod Freight Services, Xolani Mbambo, says that customers looking for end-to-end solutions in South Africa will continue to work with Maersk. “However, after closing most of the landside execution will be done by the proposed new joint venture.”
The transaction is subject to obtaining regulatory approvals, including required competition law approvals. The new organisation will be formed and go live within a few weeks of approval being granted by relevant regulators. Until then both companies remain separate and will continue to conduct their businesses independently.
