"Maersk Completes Oil and Gas Spin Off as Drilling Unit Lists in Copenhagen"

From Reuters via gCaptain:

A.P. Moller-Maersk spun off its oil and gas drilling unit and listed it separately on the Copenhagen stock exchange on Thursday, where it was traded slightly below the book value it had in Maersk’s own accounts.

The demerger is a part of the Danish shipping group’s 2016 plan to refocus its efforts into transport and logistics, a plan that has also led to the divestment of its oil exploration and production business to France’s Total in 2017.

Shares in the new company, called The Drilling Company of 1972 A/S, traded at 555 Danish crowns per share at 0805 GMT, which would value the company at around 24 billion Danish crowns ($3.6 billion)....

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I'd give it a 10% discount to peers just for the name.

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Maersk’s Vice CEO Stepping Down After Energy Exit