Maersk sells ferry business

Maersk sells ferry business    A.P. Moller ' Maersk said it has sold its ferry and logistics company Norfolkline to another ferry company, DFDS, for about 346 million euros ($497 million) in a deal in which A.P. Moller – Maersk will obtain a 28.8 percent stake in DFDS.
   In addition, the A.P. Moller – Maersk Group will buy shares in DFDS from Lauritzen Fonden, bringing its shareholding in DFDS to about 31 percent.
   The deal excludes two of Norfolkline's vessels, which A.P. Moller – Maersk has agreed to sell to another buyer.
   “There has been a need for consolidation in the European ferry industry and the combination of Norfolkline and DFDS will create Northern Europe's leading ferry operator, spanning from Russia to Ireland, with 6,200 employees and a fleet of 75 vessels prior to the sale of the two Norfolkline vessels,” A.P. Moller – Maersk said.