Maersk to sell 49 percent of Denmark's biggest retailer

COPENHAGEN Tue Jan 7, 2014 5:02am EST

An aerial view of the MV Maersk Mc-Kinney Moller, the world's biggest container ship, as it arrives at the harbour of Gdansk August 21, 2013. REUTERS/Renata Dabrowska/Agencja Gazeta

An aerial view of the MV Maersk Mc-Kinney Moller, the world's biggest container ship, as it arrives at the harbour of Gdansk August 21, 2013.

Credit: Reuters/Renata Dabrowska/Agencja Gazeta

Related Topics

COPENHAGEN (Reuters) - Danish shipping and oil group A.P. Moller-Maersk (MAERSKb.CO) is to sell 48.68 percent of Dansk Supermarked, the largest retailer in Denmark, and 18.72 percent of department store chain F. Salling, to holding company The Salling Companies.

Maersk said it also had an option to sell its remaining 19 percent stake in each company after five years. The conglomerate has said it wants to sharpen its strategic focus on fewer business units.

The accounting gain for A.P. Moller-Maersk is expected to be around 14 billion Danish crowns depending on the timing of closing of the transaction, the company said.

($1=5.4680 Danish crowns)

(Reporting by Ole Mikkelsen; Editing by Sophie Walker)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.