EuropeFinance and Insurance

Maersk directors scoop millions from bank sale

Copenhagen: AP Moller Maersk’s sale of its 20% stake in Danske Bank has sent the light blue line’s shares through the roof.

The change in value has given CEO Nils Smedegaard Anderson winnings in the millions, writes local newspaper, Jydske Vestkysten.

The sale was announced towards the end of last month and in the space of 10 days four of the group’s directors have together earned more than DK20m ($2.95m) in stock options, the newspaper claimed.

Maersk shares have risen 10% recently, cracking all time highs, as it announced a $5.2bn profit for last year and readied an extraordinary dividend payment of $6.6bn.

Maersk directors have been buying shares cheap through the grouop’s option program.

The shipping line sold the bank stake to the Moller’s family foundation.

Hans Thaulow

Hans Henrik Thaulow is an Oslo-based journalist who has been covering the shipping industry for the last 15 years. As well as some work for the Informa Group, Hans was the China correspondent for TradeWinds. He also contributes to Maritime CEO magazine. Hans’ shipping background extends to working as a shipbroker trainee with Simpson, Spence & Young in Hong Kong.
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