Soren Skou claimed a “significant step” in AP Moller-Maersk’s strategic refocusing as Total completed the purchase of Maersk Oil today.
The Danish group took over Total stock worth $5.6bn and reduced its debt by $2.5bn following the closing.
Key questions now for AP Moller is how much of the sales proceeds will be shared with its own investors as a special dividend and when?
At the company’s capital markets day last month executives stressed a decision had yet to be made given the focus of retaining investment grade as a transport and logistics specialist.
