P&O Nedlloyd to Become Independent and Listed
P&O and Royal Nedlloyd N.V. Line Limited ("PONL"). Nedlloyd will be renamed Royal P&O Nedlloyd N.V. ("Royal P&O Nedlloyd") upon completion of the transaction. rights issue referred to below. share price at closing of business on 30 January 2004. following the transaction. resources. diligence. P&O for listing on Euronext Amsterdam. Martinair as previously indicated to the market.
EC OKs P&O, Royal Nedlloyd Split
The European Commission approved, pursuant to the Merger Regulation, a proposed transaction by which the British port operator P&O and the Dutch liner shipping company Royal Nedlloyd reorganize their common activities in the container liner shipping business. In 1996 Royal Nedlloyd NV and Peninsular and Oriental Steam Navigation Company (P&O) transferred all their respective activities in containerized liner shipping services to a newly created joint venture called P&O Nedlloyd (PONL). The businesses transferred included all their container ships, their respective ocean freight-forwarding business, the container packing operation as well as the road haulage business and rail shuttle business.
EC Clears Acquisition of PONL by Maersk
The European Commission issued a Press Release stating that it has cleared the acquisition of P&O Nedlloyd by A. P. Moller-Maersk, subject to conditions. The combined entity will have to divest itself of PONL’s business on the trade between Europe and South Africa and it will have to withdraw from several conferences and consortia. Source: HK Law
