- POSTED: 07 Jan 2014 18:22
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Danish shipping and oil group A.P. Moeller-Maersk said on Tuesday it would sell its supermarket business for a gain of US$2.6 billion, the second deal in two days raising a total of about US$3.5 billion.
COPENHAGEN: Danish shipping and oil group A.P. Moeller-Maersk said on Tuesday it would sell its supermarket business for a gain of US$2.6 billion, the second deal in two days raising a total of about US$3.5 billion.
The first deal, revealed on Sunday, concerns the sale of supertanker ships.
The group said the sale of its supermarket activities would yield a book profit of 14 billion kroner (1.9 billion euros, US$2.6 billion.)
Under the deal, a business known as the Salling Companies will acquire 48.68 per cent of Dansk Supermarked, and 18.72 per cent of the shares in Maersk partner F. Salling.
The Salling Companies will also have an option to buy Maersk's remaining 19-per-cent stake in the supermarket business five years after the initial deal has been concluded.
"Over the last two years Dansk Supermarked has undergone a rejuvenation and has a strong future ahead of it," Maersk chief executive Nils Andersen said in a statement.
"A new management team is in place with plans to develop the business both here in Denmark and internationally," he added.
Dansk Supermarked, Denmark's biggest retailer, is the owner of discount supermarket chain Netto, which has expanded into Germany and Poland.
It is also the franchise holder for Starbucks in Denmark.
On Sunday, Belgian shipping group Euronav said it would buy 15 very large crude carriers (VLCCs) from Maersk's Tankers unit for US$980 million (720 million euros).
"Last year, we disclosed our intention to reduce our exposure to the VLCC market and focus on the product segments going forward," Maersk Tankers chief executive Morten Engelstoft said.
"Euronav has now presented us with a deal that supports this strategy," he added.
The price of shares in Maersk were up by 2.7 per cent in early morning trading on the Copenhagen stock market, where the main index was 0.8 per cent higher.