Davis Polk is advising A.P. Møller – Mærsk on its formation of a joint venture with IBM. The new joint venture will provide more efficient and secure methods for conducting global trade using blockchain technology. The transaction is subject to regulatory approval and other customary closing conditions.
A.P. Møller - Mærsk is an integrated transport and logistics company with multiple brands and is a global leader in container shipping and ports. Including a stand-alone Energy division, the company employs roughly 88,000 employees across operations in 130 countries. IBM provides technology and consulting services and offers a portfolio of middleware for collaboration, predictive analytics, software development and systems management.
The Davis Polk corporate team includes Managing Partner Thomas J. Reid, partner Harold Birnbaum and associate Caitlin Cunningham. Partner Frank J. Azzopardi and associate Daniel F. Forester are providing intellectual property and technology advice. Partner Rachel D. Kleinberg is providing tax advice. Partner Veronica M. Wissel and associate Joshua S. Sills are providing executive compensation advice. Members of the Davis Polk team are based in the New York and Northern California offices.