AP Moller-Maersk has sold its entire position of 20m shares in Hoegh Autoliners for NOK 1.8bn ($169m), removing its status as the car carrier operator’s second-largest stakeholder.

The shares, which were sold at NOK 90 each, represented about 10.5% ownership and voting rights in Oslo-listed Hoegh Autoliners.

Investment ABG Sundal Collier acted as sole financial adviser and book runner for the transaction, while Advokatfirmaet BAHR acted as legal adviser.