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A Deal of the Year Nominee Already

Today, A.P. Moller – Maersk (“Maersk”) announced that it has reached an agreement to sell its 13.7% interest in Sigma Enterprises, which, in turn, owns an interest in Yantian International Container Terminal and the related shareholder loans to a subsidiary of COSCO Pacific Limited for a total consideration of $520 million. Yantian is a joint venture that has been successfully managed by Hutchison. As Maersk was not the operator and because it held only a minority interest, the company was not reticent to sell it, as part of its active portfolio management, when it received a fair offer. Maersk will not be exiting China as it currently maintains operations and holds terminal interests in the ports of Dalian, Guangzhou, Qingdao, Shanghai, Tianjin and Xiamen. When concluded, Maersk expects to book an accounting gain of $300 million to $400 million.

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