Maersk to sell bank stake

AP Moller-Maersk is lining up another huge asset disposal as it finally decides to cash in on its holding in Danske Bank.

25 February 2015 8:21 GMT Updated 1 October 2015 11:55 GMT

By Gary Dixon

The Danish shipping group owns a 20.05% stake worth $5.4bn in the lender.

Its share of the bank's profit in 2014 was $330m, up from $254m in 2013. Profitability improved and a goodwill provision of $202m from 2008 was reversed, it said.

Danske stock will be offered to its shareholders.

Group CEO Nils Andersen said: "In the continuing efforts to focus our portfolio and share value creation with our shareholders, it has been decided to divest our Danske Bank shares."

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