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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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 shares after Temasek tendered its majority stake in Singapore's largest listed shipping line by market capitalisation. The French company can proceed according to its acquisition plan, to delist NOL once it holds more than 90 per cent of shares in the Singapore listed counter.
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