MAERSK has agreed to divest two logistics sites in Russia as part of its 2022 decision to discontinue its operations in the country.

It is selling its facilities in St Petersburg and Novorossiysk to IG Finance Development, a company registered in Cyprus.

Maersk said the transaction has obtained the necessary regulatory approvals in the EU and Russia. It said the divestment is closed and effective as of 17 February 2023.

“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,” Maersk chief commercial officer Karsten Kildahl said.

“Throughout the divestment process, we have as a company felt a strong responsibility towards the remaining 50 employees at the two sites, and we are happy that they will be offered employment as part of the new setup.”

IG Finance Development has, according to Maersk, made an agreement with Arosa, a large food importer in Russia, to operate both sites.

Maersk said the 28,750-square-metre inland depot in Novorossiysk has a 1500 TEU capacity and specialises in handling commercial cargo (such as grains) from rail to containers.

The chilled and frozen warehouse in St Petersburg is 23,500 square-metres.

A report from Reuters says the latest transaction has brought Maersk close to the end of its business activities in Russia.

In August last year, Maersk announced it would sell its stake in Russian container terminal operator Global Ports Investments.

A spokesperson told Reuters that Maersk still needs to sell four Svitzer tugboats, a process that is ongoing. After that, Maersk will not have any business in Russia.