Maersk completes oil-gas business spin off

COPENHAGEN (Reuters) – A.P. MollerMaersk 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.