AP Moeller Maersk sells shares in Dansk Supermarked A/S and F. Salling A/S
AP Moeller Maersk A/S (APMM):Sells shares in Dansk Supermarked A/S and F. Salling A/S to F. Salling Invest A/S and F. Salling Holding A/S (jointly the Salling Companies).Says the Salling Companies will acquire 48.68 percent of the shares in Dansk Supermarked A/S and 18.72 percent of the shares in F. Salling A/S.Says five years after closing of the transaction the Salling Companies have a call option on the remaining 19 percent in each of the Companies owned by APMM and APMM has a put option for its remaining shares in each of the companies.Says total enterprise value for the companies is 41 billion Danish crowns.Says the accounting gain for the APMM Group is expected to be about 14 billion Danish crowns depending on the timing of closing of the transaction.Says the transaction will generate cash proceeds of about 17 billion Danish crowns.Says closing is expected to take place during H1 2014.
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