CMA CGM’s general offer for all shares in NOL it did not already own closed at 5-30pm Singapore time with it owning 2.54bn shares in the shipping line.
Having easily exceeded the 90% threshold required by the Singapore Exchange for delisting and compulsory acquisition of all remaining shares it does not own NOL, CMA CGM reiterated its plan to exercise those rights.
All remaining shares will be acquired at the offer price of SGD1.30.
The news comes on the same day that Hapag-Lloyd formally inked its merger deal with United Arab Shipping Co (UASC) and Stolt-Nielsen announced it was buying Jo Tankers chemical carrier business for $575m.
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