Bid for NOL: CMA CGM clears Chinese anti-monopoly hurdle
French container shipping group says it expects to announce proposed offer for NOL by June 2 at the latest
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Singapore
FRENCH container shipping group CMA CGM expects to announce soon its proposed S$3.4 billion acquisition of Singapore-listed Neptune Orient Lines (NOL). This follows its clearance of another hurdle - the receipt of approval from the Anti-Monopoly Bureau of the Chinese Ministry of Commerce.
In a statement on Wednesday, CMA CGM said now that it has the regulatory approvals of both the Chinese authorities and the European Commission (EC), it expects to announce the proposed voluntary general cash offer for NOL by June 2 at the latest.
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