AP Møller Holdings sets to acquire KK Group from Solix Group

A.P. Moller Holding, which controls Danish shipping giant A.P. Moller-Maersk acquires Danish wind turbine supplier KK Group in a first step into the renewable energy industry.

A.P. Moller Holding is the parent company of the A.P. Moller Group, which was established in 1904 by Arnold Peter Møller. Presently, the Group consists of private and public companies within transportation, logistics, infrastructure, energy, and financial services. A.P. Moller Holding is owned by the A.P. Moller Foundation, which was set up by the founding family. The A.P. Moller Group reported a 2018 revenue of US$40 billion with consolidated assets of US$62 billion. The purpose of A.P. Moller Holding is to invest in and develop ‘nyttig virksomhed’, i.e. companies having a positive impact on society.

The acquisition, which needs approval from the Danish and German competition authorities, is expected to be completed in the third quarter of 2019.

The transaction details were not disclosed.