AP Moller-Maersk has announced a plan to use a significant chunk of its cash pile to buy its shares off the market as the AP Moller Foundation looks to sell its direct stake.
The Danish container shipping giant said it will spend up to DKK 14.4bn ($2bn) to buy up shares over the next 12 months.
The company said AP Moller Foundation — the second-largest shareholder after its AP Moller Holding — is poised to offload its entire 9.83%
