A.P.Moller – Maersk sells its subsidiary Maersk Data to IBM Denmark  

2004.08.18
Denmark's largest company group has entered into an agreement to sell its fully owned subsidiary Maersk Data to IBM Denmark

The Danish shipping group A.P.Moller – Maersk has entered an agreement to sell its fully owned subsidiary Maersk Data to IBM Denmark. The news was revealed in an announcement to Copenhagen Stock Exchange yesterday. The sale is expected to add approx. DKK 2.5 bn (USD 400 mn) to A.P.Moller-Maersk's result in the accounting year when the sale is completed. The acquisition figure and other conditions of the sale have not been disclosed. The agreement is subject to approval from competition authorities.

 

Jess Soderberg, chairman of Maersk Data says that with IBM as the new owner, Maersk Data is able to continue its development and achieve the global dimension that the A.P.Moller – Maersk Group and other Maersk Data customers require. According to Brian Borsting, share analyst at Jyske Bank, the sale of Maersk Data indicates a new style in Denmark's largest company group with greater focus on the core businesses: oil and shipping.

 

In 2003, Maersk Data employed 2,800 people, generating revenues of DKK 2.9 bn (USD 464 mn) and pre-tax profits of DKK 273 mn (USD 44 mn). The news is reported by national newspaper Jyllands-Posten online.

 

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