AP Moller-Maersk checks out of Dansk with $861m

AP Moller-Maersk has continued its round of asset sales, checking out of its investment in Dansk Supermarked Group in a DDK 5.5bn ($861m) deal.

The transaction follows the divestment of Maersk Oil and Maersk Tankers and ends the conglomorate’s six-decade involvement with the supermarket group.

AP Moller and Herman Salling co-invested in Dansk Supermarked in 1964 and the shipowner’s pullout had been expected in 2019 under a plan agreed in 2014.

However, this has been accelerated with the Salling Companies buying Maersk’s remaining 19% for more than it was worth three years ago.

AP Moller chief executive Soren Skou says the group secured "an attractive sales price".

He adds the sales of Maersk Oil and Maersk Tankers in the third quarter represent solid progress in the separation of the group’s energy business.

“Whilst solutions for Maersk Drilling and Maersk Supply Service remain to be defined before the end of 2018, the future Maersk will leverage even further its position of strength within Transport & Logistics,” he added.