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CMA CGM starts compulsory acquisition of remaining NOL shares

CMA CGM has moved into the final stage of taking 100% control of Neptune Orient Lines (NOL).

Marcus Hand, Editor

July 26, 2016

1 Min Read
Kalyakan - stock.adobe.com

On Monday the French container line dispatched letters of compulsory acquisition to the remaining shareholders that did not take up its SGD1.30 per share takeover offer.

CMA CGM’s general offer for NOL closed on 18 July with owning 97.83% of shares in the Singapore-listed container line. As result CMA CGM is able to de-list NOL and acquire all remaining shares in the company it does not already own.

The acquisition of NOL is part of an ongoing consolidation of the liner shipping sector, which has seen UASC merge with Hapag-Lloyd and the merger of Cosco Container Lines and China Shipping Container Lines.

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CMA CGM

About the Author

Marcus Hand

Marcus Hand

Editor

Marcus Hand is the editor of Seatrade Maritime News and a dedicated maritime journalist with over two decades of experience covering the shipping industry in Asia.

Marcus is also an experienced industry commentator and has chaired many conferences and round tables. Before joining Seatrade at the beginning of 2010, Marcus worked for the shipping industry journal Lloyd's List for a decade and before that the Singapore Business Times covering shipping and aviation.

In November 2022, Marcus was announced as a member of the Board of Advisors to the Singapore Journal of Maritime Talent and Technology (SJMTT) to help bring together thought leadership around the key areas of talent and technology.

Marcus is the founder of the Seatrade Maritime Podcast that delivers commentary, opinions and conversations on shipping's most important topics.

Conferences & Webinars

Marcus Hand regularly moderates at international maritime events. Below you’ll find a list of selected past conferences and webinars.

See more from Marcus Hand
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