Maersk says sells Norfolkline to DFDS

on December 17 2009 9:04 AM

COPENHAGEN - Danish shipping and oil group A.P. Moller-Maersk has agreed to sell its Norfolkline to Denmark's DFDS for cash and shares totalling about 346 million euros ($498 million), Maersk said.

Under the deal, Maersk will get a 31 percent stake in ferry operator DFDS, Maersk said in a statement on Thursday.

The sale of Norfolk Holdings B.V. is expected to be completed in the second quarter of 2010 and is not expected to have a significant impact on the result of A.P. Moller-Maersk A/S, Maersk said.

(Reporting by John Acher)

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