DAILY NEWS Dec 23, 2013 1:24 PM - 0 comments

Maersk changes ownership structure

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COPENHAGEN, Den.--MAERSK Line parent AP Moller-Maersk has changed its ownership structure in order to use dividends to expand shipping rather than having them donated to benefit the Nordic public, according to a Reuters report.

 By moving the 41.51 per cent shareholding and its 51.09 per cent of all AP Moller-Maersk voting rights into AP Moller Holding, it will be able to keep funds for shipping, said the report.

AP Moller Foundation is controlled by the Maersk family, but is obliged to use all dividends - US$972 million in 2012 - it receives from the shipping group for donations.

The establishment of the holding company will enable AP Moller Foundation to secure and strengthen its active ownership and provide financial flexibility and a financial buffer for the whole group," the report said.

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