Maersk Proposes $1.8B Share Placement

Law360, New York (September 2, 2009, 7:15 PM EDT) -- Danish shipping and oil giant A.P. Moller-Maersk revealed its plan Wednesday to sell up to 9.2 billion Danish kroner ($1.8 billion) in shares to beef up its balance sheet and fund future acquisitions, noting that bank loans — the company's traditional main source of capital — have grown harder to come by in the down economy.

Maersk intends to sell up to 250,340 treasury B shares, representing approximately 5.7 percent of its total share capital, to both new and existing institutional investors, the company said....
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