LONDON - The Danish shipping conglomerate A.P. Moller-Maersk Group said on Tuesday that it planned to sell most of its stake in Denmark’s largest retailer for about $3 billion.
Maersk said it would sell a 48.7 percent stake in Dansk Supermarked to the Salling companies, its longtime partner in the retailer, and has the option to sell its remaining 19 percent stake in the company in the next five years. Maersk also will sell its 18.7 percent stake in one of the Salling companies, F. Salling Holding, as part of the deal.
The deal is valued at 17 billion Danish kroner, or about $3 billion. Maersk said it plans to book an accounting gain of 14 billion kroner after the transaction.
The sale comes as Maersk has focused in recent years on what it considers its core business lines: shipping, port operations and oil drilling and exploration.
Maersk, the operator of the world’s largest container shipping line, employs about 121,000 people worldwide and posted $59 billion in revenue in 2012.
Dansk Supermarked is the largest operator of retail stores in Denmark under a variety of brands, including Netto and Salling. The company also operates under the Netto brand in Sweden, Germany and Poland.
Maersk first partnered with the company’s founder, Herman Salling, 50 years ago by investing in what became Dansk Supermarked.
“Over the last two years, Dansk Supermarked has undergone a rejuvenation and has a strong future ahead of it,†said Nils S. Anderson, Maersk’s group chief executive. “A new management team is in place with plans to develop the business both here in Denmark and internationally.â€
Shares of Maersk rose 4.2 percent, to 62,700 kroner, in morning trading in Copenhagen on Tuesday.
