AP Moeller-Maersk has sold its minority stake in the southern Chinese port of Yantian to Cosco Pacific, the Hong Kong-listed container port operator. Cosco Pacific paid US$520m for the Danish conglomerate’s entire 13.7 per cent stake in a company called Sigma Enterprises. Sigma owns majority stakes in Yantian terminal phases I, II and III and Yantian West Port. Yantian is one of the four major terminals in Shenzhen, Guangdong province. Shenzhen is one of the largest and fastest growing ports in the world.

AP Moeller-Maersk said it sold the minority stake because its current business model is focused on ports where it has a majority share and is more involved in the management.