CMA CGM given exclusive deal to work out offer for NOL in a fortnight

Singapore

NEPTUNE Orient Lines (NOL) has signed an exclusivity agreement with France's CMA CGM for a potential acquisition of the Singapore company by way of a pre-conditional voluntary general offer.

If successful, the deal would be one of the top M&A deals involving a Singapore entity and among the biggest tie-ups between container shipping lines in recent years. The SGX-listed Singapore company has a current market capitalisation of about S$3 billion.