Danish shipping and oil conglomerate AP Moeller Maersk AS announced on Tuesday that it will reduce its ownership in Dansk Supermarked and F. Salling, according to Reuters.
Under the terms of the transaction, the Salling Companies will buy 48.68% of Maersk's shares in Dansk Supermarked. The group will also acquire 18.72% of the shares in F. Salling. Five years after completing the transaction, the Salling Companies gain a call option for the remaining 19% stake in each of the companies owned by Maersk. The Danish shipping firm has a put option for its remaining holding in each of the firms, the report detailed.
The two companies have a total enterprise value of DKK41 billion. Maersk is expected to have an accounting gain of around DKK14 billion, depending on the closing time of the transaction, the report stated.
The deal will generate around DKK17 billion in cash proceeds. The stake sale is expected to take place in the first half of this year, Reuters reported.
Join the Conversation