A.P. Moeller-Maersk plans to sell its stake in a supermarket and department store to focus on transport and energy, Bloomberg News reported.
The owner of the world’s largest container line, with 3.4 million containers, said it will sell a 48.7% share in Dansk Supermarked A/S and an 18.7% share of F. Salling A/S for $2.56 billion.
Since 2007, when CEO Nils Andersen took over, Maersk has been selling divisions to focus on container shipping, port operations, oil exploration and drilling, Bloomberg reported. The company has more than 1,000 subsidiaries.
“We believe the time is right for A.P Moller-Maersk to hand over ownership of Dansk Supermarked to the Salling Companies. Over the last two years, Dansk Supermarked has undergone a rejuvenation and has a strong future ahead of it,” Andersen said in a statement.