CMA CGM in Talks to Buy NOL
CMA CGM confirms that it has entered into exclusive discussions with Neptune Orient Lines Limited (NOL) and Lentor Investments Pte. Ltd. (a wholly-owned subsidiary of Temasek Holdings (Private) Limited), its controlling shareholder, with respect to a potential combination with NOL. The exclusivity period is expected to run until December 7th, 2015.
Should these discussions lead to an agreement, such a combination would contribute to the consolidation of the container shipping industry, at a time when scale is more critical than ever.
It would further reinforce CMA CGM as a global force in container shipping, leveraging the strong geographic and operational complementarity of both groups.
No agreement has yet been reached and no assurance can be given that these discussions will lead to a definitive agreement. CMA CGM will inform the public of any material developments in due time.