NEPTUNE Orient Lines (NOL) shares will be delisted from Singapore Exchange (SGX), with effect from 9.00am on Tuesday.
France-based CMA CGM said that it has completed the exercise of its rights of compulsory acquisition of all the shares held by NOL shareholders who had not accepted the all-cash voluntary conditional general offer, at a price per share of S$1.30, equal to the offer price.
CMA CGM added that the transfer of all the remaining shares that have been compulsorily acquired has been effected, and that payment for such shares has been despatched.
NOL is now a wholly-owned subsidiary of CMA CGM.
NOL had also on Monday obtained the waivers and approval from SGX for its delisting.
Amendment note: The article originally stated that NOL shares have been delisted from SGX on Monday. It should be from 9.00am on Tuesday.