Maersk sells shares in French oil company Total

Maersk, which has been reducing its holdings in Total over the past year, says it sold shares worth about $1 billion.

Maersk sells shares in French oil company Total

Maersk, which has been reducing its holdings in Total over the past year, says it sold shares worth about $1 billion.

Maersk sells shares in French oil company Total

Maersk, which has been reducing its holdings in Total over the past year, says it sold shares worth about $1 billion.

 

   A.P. Møller - Mærsk said it has sold additional shares in the French oil company Total S.A.
    Maersk acquired 97.5 million shares in Total as part of its sale of Maersk Oil to Total, a deal it announced in 2017 and closed in March 2018.
    Since then it has been reducing its holdings in the oil company. For example, its annual report mentions that in 2018, A.P. Møller - Mærsk sold 51.25 million Total S.A. shares, generating a cash flow of $3 billion. And the annual report mentioned it had continued to sell shares this year.
    Maersk Oil Trading and Investments (MOTI) said Tuesday in a press release that it was offering its entire stake of 17,272,593 ordinary shares in Total for sale to institutional investors.

    On Wednesday it put out a second press release that it had sold the shares through an “accelerated book-building process” and that gross proceeds were 884 million euros, equal to about 51.18 euros per share. At current exchange rates that is about $1 billion.

The stiff headwinds trade disputes have created for U.S. pork exports have certainly not subsided. USMEF is encouraged by reports of progress toward resolution of these disputes, but in the meantime, missed opportunities for export growth are mounting

Spot container rates from Shanghai to Rotterdam clocked in at $1,312 per FEU as of April 18, down from $1,431 per FEU four weeks prior, and down from $1,656 per FEU eight weeks prior, but still up 14 percent year-over-year, according to data from Drewry's WCI.

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Maersk sells shares in French oil company Total

Maersk, which has been reducing its holdings in Total over the past year, says it sold shares worth about $1 billion.

Mar 19, 2019 on Dec 27, 2018AmericanShipper.com

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Maersk sells shares in French oil company Total

Maersk, which has been reducing its holdings in Total over the past year, says it sold shares worth about $1 billion.

Mar 19, 2019 on Dec 27, 2018AmericanShipper.com