A.P. Moller Holding and KKR announced that they have signed an agreement under which a subsidiary of A.P. Moller Holding will acquire 100% of Ocean Yield. Ocean Yield is being acquired from funds managed by KKR.
Ocean Yield is a global ship leasing platform headquartered in Oslo, Norway. The company holds interests in more than 70 modern vessels across several shipping sectors.
Its fleet exposure includes gas carriers, container ships, LNG carriers, crude tankers, product and chemical tankers, and dry bulk carriers. The acquisition strengthens A.P. Moller Group’s maritime portfolio and builds on the group’s long-term maritime legacy.
Under KKR’s ownership, Ocean Yield invested more than $3 billion to expand its portfolio. The company also diversified and broadened its investment-grade customer base.
Ocean Yield has also nearly doubled its long-term contracted backlog to more than $5 billion. A.P. Moller Holding said Ocean Yield’s stable cash-flow business model complements its existing maritime portfolio.
KKR said Ocean Yield has become a larger, stronger, and more resilient business during its ownership period. The firm also said A.P. Moller Holding is well positioned to serve as a long-term owner for Ocean Yield’s next chapter.
KKR will continue to be a strategic partner to Ocean Yield through their joint investment in CapeOmega Gas Transportation. Completion of the transaction remains subject to customary regulatory approvals.
