Maersk shipping magnate Mc-Kinney Moller dies

Mon Apr 16, 2012 7:01am EDT
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COPENHAGEN (Reuters) - Danish oil and shipping group A.P. Moller-Maersk (MAERSKb.CO: Quote) said on Monday partner and shipowner Maersk Mc-Kinney Moller died on April 16.

The company's shares rose over 6 percent as analysts said Mc-Kinney Moller's death could lead to a stock split or demergers.

Mc-Kinney Moller, born on July 13 in 1913, died at the age of 98, having made his last public appearance at the group's annual general meeting last Thursday.

As the traditional main attraction at the AGM, Moller spoke briefly to shareholders and signed autographs but looked frail as he joked there were too few female photographers present.

An analyst said the group, founded in 1904, could now face change.

"It could be a stock split or a demerger of for instance Danske Bank (DANSKE.CO: Quote) or Dansk Super market," Alm. Brand analyst Jesper Christensen said.

Moller-Maersk owns a 20 percent stake in Danske Bank as well as an interest in Dansk Supermarked Group, its website shows.

Maersk Mc-Kinney Moller, son and grandson of the founders of the A.P. Moller-Maersk group, Arnold Peter Moller and his father, Peter Maersk Moller, took over the leadership of the group when his father died in 1965.

He handed over the daily management of the group to Jess Soderberg in 1993, and the chairmanship to Michael Pram Rasmussen in 2003. Soderberg was replaced by Carlsberg Chief Executive Nils Smedegaard Andersen in 2007, while Rasmussen remains chairman.   Continued...

The container vessel Maersk Phuket berths to discharge containers at Apapa port in Nigeria's commercial capital Lagos June 29, 2010. REUTERS/Akintunde Akinleye