French container line CMA CGM has confirmed its acquisition of Singapore’s Neptune Orient Lines (NOL) with a cash offer of SGD1.30 ($0.93) per NOL share, valuing the deal at $2.4bn.
The clock is ticking down on a potential acquisition of Neptune Orient Lines (NOL) by CMA CGM with the Singapore company suspending its shares on Monday morning pending an announcement.
Amid fears that shipping will be disproportionately penalised at the Paris COP21 conference, French container line CMA CGM has come out in support of shipping, claiming reductions in its own emissions of 50% in 10 years.
Shares in Singapore-listed Neptune Orient Lines (NOL) jumped nearly 6% on Monday following news at the weekend that it was in exclusive takeover discussions with CMA CGM.
The takeover Neptune Orient Lines (NOL) by CMA CGM moved a major step closer at the weekend with the two companies entering into an exclusivity agreement.
Singapore’s Neptune Orient Lines (NOL) has confirmed that it is in “preliminary discussions” with France’s CMA CGM and Denmark’s AP Moller-Maersk with respect to a potential acquisition deal.
DNV GL unveiled an LNG-powered, electric turbined powered mega-containership, which would have a box capacity, at Gastech 2015 in Singapore on Tuesday.
CMA CGM reports that French President François Hollande last week christened its new 18,000 teu flagship the CMA CGM Bougainville, largest containership ever to fly the French flag, at a special ceremony held in Le Havre.