The Singapore-headquartered shipping company and CMA CGM signed an exclusivity agreement on negotiations for an acquisition by the French line on 21 November and this expires at 11-59pm Singapore time on 7 December. NOL requested a trading halt for its shares on the Singapore Exchange before trading started on Monday pending an annoucement.
CMA CGM was reported on 3 December to have lined-up funds for the buyout.
By slot capacity it would the largest consolidation in the history of container shipping surpassing Maersk buyout of P&O Nedlloyd.
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