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CMA CGM buys out Temasek's NOL stake

It now owns over 78% of the Singapore carrier; its general offer becomes unconditional

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CMA CGM vice-chairman Rodolphe Saade (left) with Nepture Orient Lines chief executive Ng Yat Chung at a press conference on Dec 7, 2015, to announce the buyout.

Singapore

TEMASEK Holdings has tendered all shares in Neptune Orient Lines (NOL) to French carrier CMA CGM, taking NOL closer to the targeted delisting from the Singapore stock exchange later this year.

CMA CGM said that as at Friday morning, it owned 78.07 per cent of all NOL