Maersk to sell stake in Danish grocery business

AP Moller-Maersk, the Danish shipping conglomerate, said yesterday that it plans to sell most of its stake in Denmark's largest retailer for about $3 billion.

Maersk said it will sell a 48.7 per cent stake in Dansk Supermarked to the Salling companies, its longtime partner in the retailer, and has the option to sell its remaining 19 per cent stake in the company in the next five years. Maersk also will sell its 18.7 per cent stake in one of the Salling firms, F Salling Holding, as part of the deal.

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. Dansk Supermarked is the largest operator of retail stores in Denmark under a variety of brands, including Netto and Salling. – New York Times service 2014