Seeking Alpha

Maersk to offload retail stakes for over $3B

  • 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)
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