From Marine Link

Danish 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).

Maersk owns 16.2 million shares representing 1.6 per cent of the total shares in Denmark‘s largest bank.

Sales are made through an accelerated book building, which will also determine the price, according to Maersk.

Following the placing, the shipping and energy firm will hold no shares in Danske Bank.

American bank JPMorgan and Swedish major bank Nordea are hired as consultants for Maersk in the sales process.

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 US $1.1 billion in April 2016.

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