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January 30, 2008 A.P. Moller-Maersk takes stake in Hoegh AutolinersThe A.P. Moller - Maersk Group has sold its 18 car carriers (including six newbuildings) to Hoegh Autoliners and will simultaneously become a shareholder with a 37.5 ownership. In February 2007 the parties signed a cooperation agreement that saw the A.P. Moller - Maersk Group enter its fleet of car carriers into a commercial operation controlled by Hoegh Autoliners. A.P. Moller - Maersk says the sale will move it from being an owner of car carrier tonnage to a shareholder in Hoegh Autoliners, which is a car carrier operator. After the transaction Hoegh Autoliners will commercially operate 67 vessels from its offices in Oslo and 30 locations world-wide. . The transaction, which is subject to relevant approvals from regulatory authorities, will generate an accounting gain for A.P. Moller - Maersk of around $200 million after tax in 2008 and is not expected to have any additional significant effect on the result for for 2008.
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