Maersk seals Bromstrom deal

Maersk's wholly owned Swedish subsidiary Maersk Product Tankers now owns representing 96.2% of the capital and 97.6% of the votes in tanker company Brostrom following a render offer.

Maersk had previously owned 36.4% of the shares and 22.7% of the votes in Brostrom and proceeded with the offer once the move was cleared by the European Commission.

A Maersk statement says: “In order to provide shareholders in Brostrom, who have not yet tendered their shares the opportunity to accept the Offer, AP Møller – Maersk A/S has decided to extend the acceptance period until 23 January 2009 at 16.00 CET.”

The company adds that it intends to initiate compulsory acquisition proceedings in relation to the outstanding Brostrom shares in the near term, as well as act to have the Broström de-listed from OMX Nordic Exchange Stockholm.

Source: http://www.mgn.com