CMA CGM nears ownership in NOL shares
CMA CGM has crossed the compulsory acquisition ownership threshold in Neptune Orient Lines (NOL) following its all-cash voluntary conditional general offer for NOL which was launched on June 6, 2016.
CMA will now compulsorily acquire the remaining NOL shares. The company now owns approximately 91.28 per cent of NOL’s share capital.
Once the acquisition is completed, the combined group will own 540 vessels and have a fleet capacity of 2.4 million TEU.
CMA confirmed that it intends to delist NOL from the main board of the Singapore stock exchange.