Copenhagen: Denmark’s A. P. Moller-Maersk (APMM) has published details of its planned sale of its 20% stake in the country’s largest bank, Danske Bank.
If all the shares are sold, APMM said it expects gross proceeds to amount to $4.94bn.
The group said it would sell three quarters of its bank stock to its controlling shareholder, the Moller family foundation, and the remainder to other existing shareholders.
“The purpose of the offering is to divest APMM’s current ownership interest in Danske Bank in accordance with APMM’s continuing efforts to focus on its core activities,” the group said in a statement.
