Maersk to offload retail stakes for over $3B

|By:, SA News Editor

A.P. Moeller Maersk (AMKAF, AMKBY) is set to earn 17B Danish kroner ($3.11B) after agreeing to sell stakes in two retailers to holding firm The Salling Companies.

Maersk, which is better known for its shipping operations, is selling 48.68% in Dansk Supermarked and 18.72% in department store F. Salling. There are options for further transactions in the future.

The deals represent the latest latest step in the streamlining of the conglomerate, which is also selling 15 oil tankers to Euronav for $980M. However, Maersk plans to keep its 22.84% interest in Denmark's biggest bank, Danske Bank. (PR)