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....
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.