Maersk’s CEO has confirmed the Danish oil and shipping company will keep its 22.84% stake in Danske Bank, after divesting itself of retail interests.
Nils Smedegaard Andersen, chief executive of Maersk, spoke up after a Danish newspaper reported a sale had been recommended by advisory group McKinsey & Company.
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Speaking on 7 January, Andersen said: "The group strategy is to keep the stake in Danske Bank. We consider that strategic."
Maersk did agree on 7 January to sell 48.68% of Dansk Supermarked, Denmark’s largest retailer and 18.72% of department store chain F.Salling to The Salling Companies for DKK17bn ($3.1bn).
According to the company, its retail holdings were not part of its core business.
Maersk also denied rumours of a sale on 3 January, when spokesman Michael Storgaard said:
"We have no plans to sell our stake in Danske Bank. Both our chief executive and our supervisory board chairman have clearly stated that such a divestment isn’t part of our strategy.
"Maersk considers the Danske Bank stake a long-term investment."
Maersk is the biggest shareholder in the Danish lender, with the next biggest, Cevian Capital, owning only 5%.
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