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Nol Shares

CMA CGM Crosses 90% Ownership Threshold in NOL

Photo: CMA CGM

Container shipper CMA CGM S.A. has crossed the 90 percent ownership threshold in Neptune Orient Lines Limited (NOL), enabling it to bring the Singapore company private.   Following its all-cash voluntary conditional general offer (Offer) for NOL which was launched on June 6, 2016, CMA CGM now owns 2,361,044,044 shares representing approximately 90.68 percent of NOL’s share capital.   With the public float of NOL shares now falling below the minimum threshold of 10 percent, the Singapore Exchange Securities Trading Limited (SGX-ST) may suspend the trading of NOL shares at the close of the Offer. In the event of a trading suspension, CMA CGM does not intend to take steps for the suspension to be lifted.   In addition, CMA CGM intends to have NOL delisted from the Main Board of the SGX-ST.   CMA CGM also confirms that it intends to exercise its right of compulsory acquisition to acquire all the NOL shares held by shareholders who have not accepted the Offer, in accordance with the Companies Act (Chapter 50 of Singapore), should it acquire more than 91.05 percent of NOL shares. An announcement will be released on SGXNET accordingly.   CMA CGM is offering NOL shareholders the Offer Price of SGD 1.30 per NOL share in cash.  


NOL to Help Develop a New Container Terminal

Neptune Orient Lines (NOL) has been advised by the Port of Rotterdam that a consortium comprising NOL, Hyundai Merchant Marine, Mitsui OSK Lines, DP World and CMA CGM has been awarded the right to equip and operate the first container terminal to be developed at Maasvlakte 2 in Rotterdam. The 156 hectare terminal will have a capacity of around 4 million TEU and is expected to be operational in 2013. NOL’s share of the consortium will be 20%.


NOL Shares Drop On Re-Rating Rumor

Shares of Neptune Orient Lines (NOL) fell almost seven percent in heavy trade on talk there was some re-rating of the stock following changes in the Morgan Stanley Capital International (MSCi) index. The shipping group was down 15 cents or six percent at S$2.28 after hitting a low of S$2.26 earlier. Aside from the index news, there is reportedly concern that the group could be affected by rising bunkering charges. Put in perspective


CMA CGM Takes Control at NOL, Reshuffles the Board

Pic: CMA CGM

 France’s CMA CGM now holds over 78 percent of the shares in Neptune Orient Lines (NOL), bringing it closer to taking the Singapore company private.   CMA CGM currently owns approximately 78.07% of all NOL shares, and does not intend to preserve the listing status of NOL.   Further to the Offer Implementation Agreement, this change in control results in a change in the composition of NOL's Board of Directors.   


NOL Nets 4Q US$77 mln loss

Image: Courtesy NOL

NOL Group today reported a 4Q 2015 net loss of US$77 million, an improvement of US$8 million over 4Q 2014. The Group posted a Core EBIT (Earnings Before Interest, Taxes and Non-Recurring Items) loss of US$65 million in the quarter. Its Core EBITDA remained positive at US$39 million.   On a full year basis, NOL posted a net profit of US$707 million. Excluding a one-time US$888 million gain on the sale of its logistics unit, NOL incurred a full year net loss of US$181 million


CMA CGM Keeps Buying NOL Shares

Pic: Neptune Orient Lines

 French liner giant CMA CGM has acquired last week a total of 2.26 million shares in Neptune Orient Lines (NOL), six months before it is scheduled to make good its S$3.4 billion takeover bid for the Singapore-listed liner, reports Business Times.   It acquired 1.33 million (0.05 per cent stake) at $1.233 apiece) and 930,700 shares (0.04 per cent) at S$1.235 each on Jan 4 and Jan 5 respectively.   This information was revealed by CMA CGM's financial advisers comprising the


NOL Invited into Next Stage of Hapag-Lloyd Sale Process

Neptune Orient Lines Limited (NOL) has been invited to continue into the next phase of the bidding process for the sale of the Hapag-Lloyd container shipping business. NOL submitted an indicative non-binding bid to acquire Hapag-Lloyd to the company’s owner TUI AG on 21 July 2008. Any agreement would be subject to, among other steps, due diligence, submission and acceptance of NOL’s final bid, regulatory approvals and NOL shareholders’ approvals


CMA CGM Seeking Funds for NOL Takeover

Pic: Neptune Orient Lines Ltd

 France’s CMA CGM has approached banks to finance its potential takeover bid for Singapore’s Neptune Orient Lines Ltd (NOL), reports Bloomberg.   The world’s No. 3 container shipping company is in talks with banks including BNP Paribas SA, HSBC Holdings Plc and JPMorgan Chase & Co. for loans to back an offer for NOL.   As per take-over laws, CMA CGM should demonstrate it has sufficient financial resources before making a definitive bid for Neptune Orient


$1.7 billion NOL Up for Sale. Will Hapag-Lloyd Buy?

Photo: NOL Group

 Singapore Sovereign Wealth Fund Temasek Holdings has put Neptune Orient Lines (NOL) up for sale, says a Wall Street Journal (WSJ) report.   The WSJ reported that Temasek was in talks with one buyer in recent months but the two sides could not agree on a price for the loss-making company. The WSJ put NOL's market capitalization at 2.3 billion Singapore dollars ($1.7 billion).   The report, citing unnamed sources


NOL Expects It To Be A Profitable Year

Neptune Orient Lines Ltd. (NOL) expects a better second half and overall profit in the current year. NOL said the bottoming out of the Asian economic crisis had resulted in higher cargo volumes in most sectors. Freight rates out of Asia to Europe and North America had also increased since mid-year, it said in comments accompanying its result. NOL reported last Wednesday an interim net profit, the first time in two years


CMA CGM Delists Neptune Orient Lines

File Pic: Neptune Orient Lines

 Shares of Neptune Orient Lines (NOL) - now a wholly owned unit of French container ship operator CMA CGM - delisted from the Singapore Exchange (SGX) with effect from 9am September 07.   CMA CGM said in a press release on Monday (Sep 5) that NOL had obtained the necessary waivers and


CMA CGM Posts Loss in Q2

Photo: CMA CGM

 Ocean Carrier CMA CGM reported a net loss of $128 million for the second quarter of 2016, compared to a net gain of $156 million for the second quarter of 2015.       Its revenue declined to $3.5 billion ($3.3 billion excluding the contribution from Singapore’s Neptune


CMA CGM's Integration of NOL

Photo: Neptune Orient Lines

 After successfully acquiring a controlling interest in NOL, CMA CGM has consolidated the Singapore-based company since 14 June, says a press release from the company.   Singapore’s Neptune Orient Lines (NOL) is the parent company of container carrier APL.  


CMA CGM Completes NOL Acquisition

Photo: CMA CGM, NOL

 CMA CGM has reported its all-cash voluntary unconditional general offer for Neptune Orient Lines Ltd (NOL) closed on July 18, 2016, with CMA CGM now owning approximately 97.83 per cent of NOL's share capital.   Monday July 18 marked the last day of trading in shares of NOL on the


CMA CGM Crosses 91.05% Ownership Threshold of NOL

File Pic: Neptune Orient Lines Ltd

 CMA CGM S.A has crossed the compulsory acquisition ownership threshold in Neptune Orient Lines Limited (NOL).    Following its all-cash voluntary conditional general offer (Offer) for NOL which was launched on June 6th, 2016, CMA CGM now owns 2,376,715


Maersk Fights to Stay on top as Containership Downturn Deepens

Maersk Mc_Kinney Moller (Photo courtesy Maersk)

Denmark's Maersk Line is fighting to remain the world's no.1 container shipping carrier as a wave of mergers and acquisitions, particularly in Asia, creates new challengers trying to grab a bigger share of a depressed market. Maersk itself hasn't made a major acquisition for more than a decade


CMA CGM Confirms Partnership with PSA

Photo: CMA CGM

 CMA CGM and PSA Singapore Terminals (PSA) have confirmed that they will establish form a joint venture company CMA CGM-PSA Lion Terminal Pte. Ltd. (CPLT) to operate and use four mega container berths in Singapore.   CPLT will commence operations from the second half of this year


NOL Appoints New CEO, CFO

Nicolas Sartini (Photo: NOL)

Amid a takeover by France’s CMA CGM, Singapore container shipper Neptune Orient Lines (NOL) has named a new chief executive officer and chief financial officer.   Nicolas Sartini will take over as chief executive officer, succeeding Ng Yat Chung


CMA CGM to delist NOL

File image: (Marad)

French container shipping firm CMA CGM plans to delist Neptune Orient Lines (NOL) following its takeover of the Singaporean shipper, CMA CGM's vice chairman Rodolphe Saade told French daily Les Echos. CMA CGM, the world's third-largest container shipping company


CMA CGM's Bid for NOL Open Until July 4

Photos: CMA CGM, Neptune Orient Lines

 CMA CGM has finally made its all-cash voluntary conditional general offer for all the outstanding shares of Neptune Orient Lines (NOL). This follows approvals by the relevant regulatory authorities in the European Union and China.  


CMA CGM Intends Offer to Acquire NOL

Following the satisfaction and waiver (as the case may be) of the conditions set forth in the pre-conditional offer announcement dated 7 December 2015, CMA CGM S.A. (CMA CGM), announced its firm intention to make an all-cash voluntary conditional general offer (Offer) for all the outstanding


CMA CGM Proceeds with NOL Takeover after China Okay

File Image: A CMA CGM boxship alongside during cargo operations (credit: Marad)

CMA CGM, the world's third-largest container shipping firm, is to go ahead with its planned acquisition of Singapore's Neptune Orient Lines (NOL) after receiving regulatory clearance from China, the French group said. CMA CGM received on Wednesday confirmation of the deal's approval by the


China Okays CMA CGM's Acquisition of NOL

Courtesy NOL

 CMA CGM S.A. (CMA CGM), a global leader in container shipping, announces that it has received today confirmation that its pending acquisition of Neptune Orient Lines (NOL), Southeast Asia’s largest container shipping company (SGX: N03)


CMA CGM Aims to Cut Costs by $1 Bln

Photo: CMA CGM

France's CMA CGM, the world's third-largest container shipping firm, reported a first-quarter net loss on Friday and targeted $1 billion in cost cuts to keep operating margins positive during the current market downturn.   Weak freight rates in the past year have left many lines operating


Hapag-Lloyd, Competitors Form New Pact

File Image: a Hapag Lloyd boxship alongside during cargo operations (Hapag-Lloyd)

To fend against M2, newly forming Ocean Alliance is latest push for economies of scale groups. German container shipping firm Hapag-Lloyd has formed a new alliance with five Asian competitors, it said on Friday, the latest step in an industry reorganisation that is divvying up the global






 
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