Maersk to Own Majority Share in DFDS

13 July 2010 (Last Updated July 13th, 2010 18:30)

AP Moller-Maersk has sold its ferry and logistics company Norfolkline to Danish ferry operator DFDS for €346m ($435.6m), becoming the majority shareholder in DFDS in the process. A total of €170m ($214m) will be paid in cash and the remainder in DFDS shares, according to tradingmarkets.co

AP Moller-Maersk has sold its ferry and logistics company Norfolkline to Danish ferry operator DFDS for €346m ($435.6m), becoming the majority shareholder in DFDS in the process.

A total of €170m ($214m) will be paid in cash and the remainder in DFDS shares, according to tradingmarkets.com.

DFDS said it raised gross proceeds of DKK554.7m ($93m) in the rights issue and an additional DKK1.562bn ($263m) in the private placement.

Maersk agreed to sell Norfolkline to DFDS on a debt-free basis in December 2009 and was approved by the European Commission on 18 June 2010.