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CMA CGM’s stake in NOL is 78.07%
[ June 20, 2016 // Gary G Burrows ]CMA CGM S.A. (CMA CGM) satisfied on 9 June the acceptance condition in its all-cash voluntary conditional general offer for Neptune Orient Lines Limited (NOL), after NOL’s majority shareholders (Temasek and its affiliates) tendered all of their shares in acceptance of the Offer. The Offer has therefore been declared to be wholly unconditional.
“We are supportive of this transaction as it presents NOL with an opportunity to join a leading player with an extensive global presence and solid operational track record. The combination of NOL and CMA CGM will create a leading shipping company that delivers reliable and efficient service to its customers,” said Temasek’s Joint Head, Portfolio Management Group, Tan Chong Lee.
“Their complementary strengths will yield mutually beneficial results. We also note and welcome the commitment of CMA CGM to enhance Singapore’s position as a key maritime hub and grow Singapore’s container throughput volumes.”