Maersk offloads Total stake

Maersk offloads Total stake

Maersk Oil Trading and Investments, a wholly-owned subsidiary of A.P. Møller – Mærsk, has sold its ordinary shares in French energy giant, Total.

Maersk received gross sale proceeds of around €884m ($1bn) for its 17.27m shares, offered to it as part of the deal to take over Maersk Oil a year ago in the Danish company’s ongoing divestment of non-container related investments.

Barclays and Citigroup acted as joint global coordinators and bookrunners for the placing.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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