Maersk restructures…post cyber-attack damages

Tradewinds praised Maersk in its article “Success means knowing when to sell assets, as well as buy”.

According to the article, “Maersk Tankers moves into spotlight after AP Moller’s swift sale of Maersk Oil to France’s Total shows the Danish group is ready to implement its restructuring strategy.

When AP Moller-Maersk gets moving, the world pays attention. So it was this week when, just days after lacklustre interim results, it unveiled an agreement to sell its Maersk Oil subsidiary to Total for $7.45bn in shares and debt.

The Danish giant won plaudits for delivering the first — and biggest — element in its stated disposal of its energy division to focus on transport and logistics through its liner, terminals and freight forwarding operations.”

Perhaps the sale was a strategic decision before the cyber attack? Alternatively, if the reported $300 million loss from the cyber attack was the key driver behind the restructure, then businesses should consider that the true cost of not having strong cyber-security is in fact more far-reaching that they realise?

For full Tradewinds article please see here: Tradewinds

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