Maersk Sells Its Danske Bank Stake for USD 477 Mn
Image Courtesy: Danske BankDanish shipping and energy giant A.P. Møller – Maersk A/S has sold its shares in the Danske Bank A/S for a total of DKK 3.2 billion (USD 477 million).
The company has divested its remaining ownership stake of over 16.1 million shares in the Nasdaq Copenhagen-listed Danske Bank through an accelerated bookbuilding process to institutional investors at a price of DKK 200 per share.
Maersk’s share in the company corresponded to around 1.6 percent of the total number of shares and votes in Danske Bank.
Following the placing, the shipping and energy firm will hold no shares in Danske Bank.
J.P. Morgan and Nordea acted as Joint Bookrunners in connection with the placing.
In March 2015, the company divested the majority of its original ownership interest in Danske Bank of over 202.2 million shares.
The sale was finalised with 85 percent ordered by A.P. Møller Holding A/S and 7 percent by other shareholders. The proceeds from the sale were distributed by A.P. Møller - Mærsk A/S as an extraordinary dividend of USD 1.1 billion in April 2016.
