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DANISH shipping giant Maersk has agreed to sell its two logistics sites in Russia to IG Finance Development Limited, nearly marking the end of its business activities in the country, Reuters reports.
The group said the sale of its inland depot facility in Novorossisk, with a capacity of 1,500 TEU, and a chilled and frozen warehouse in St Petersburg had obtained regulatory approvals in the European Union and Russia.
"We are pleased to have found a new owner of our two logistics sites in Russia and thereby execute on our decision to divest all our assets in the country," said Maersk chief commercial officer Karsten Kildahl.
IG Finance Development, a company registered in Cyprus, has made an agreement with Arosa, a large food importer in Russia, to operate the sites, Maersk said.
Maersk still needs to sell four tug boats under its Svitzer brand, a process that is ongoing. After that, Maersk will not have any business in Russia.
In August last year, Maersk sold a 30.7 per cent stake in Russian port operator Global Ports Investments to Russia's largest container operator Delo Group.
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