A.P. Moller-Maersk completed the sale of its roll-on, roll-off freight shipping company Norfolkline to Danish shipping line DFDS on July 12.
At the same time, Copenhagen-based Maersk acquired 31.3 percent of DFDS.
Maersk announced in December the sale of Netherlands-based Norfolkline to DFDS for $425 million in cash and shares subject to approval from European Union regulators and the ability of DFDS to raise financing for the acquisition.
The EU cleared the deal in mid-June and DFDS Monday raised $94 million from a share issue to complete financing for the transaction.
Maersk said the sale is not expected to have a significant impact on its 2010 earnings. DFDS has now become an associated company of A.P. Moller-Maersk.
The merged company will rank as northern Europe's biggest freight ferry operator with a route network stretching from Russia to Ireland, a fleet of 73 ships and around 6,200 employees.
-- Contact Bruce Barnard at email@example.com.