Squawk / 25 February 2015 at 7:09 GMT
Head of Equity Strategy / Saxo Bank
Denmark
Maersk '14 profit misses estimates; to divest 20% stake in Danske Bank...
4y
Peter Garnry Peter Garnry
FY14 net income $5.02B vs $5.68B expected.
4y
Peter Garnry Peter Garnry
FY14 sales $47.6B vs $47.1B expected
4y
Peter Garnry Peter Garnry
Maersk Oil sees significantly lower '15 result vs '14
4y
Peter Garnry Peter Garnry
The divestment of Danske Bank shares is not done to the public markets. A.P. Møller Holding A/S (the holding company of Maersk) has made a binding offer on the 15% of Danske Bank. In that way the holding company removes the 20% stake from the operational company's balance sheet and income statement, while increasing market value and channeling capital into the subsidiary Maersk.
4y
Peter Garnry Peter Garnry
The capital Maersk receives from the divestment of Danske Bank shares will be paid out to shareholders through an extraordinary dividend.
4y
kronrod kronrod
If it missed expectations, why is it up 6%?
4y
Peter Garnry Peter Garnry
The asset divestment unlocks value

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