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CMA CGM set to take NOL private as stake crosses 90%
It intends to proceed with compulsory acquisition when holding breaches 91.05%
Add BT as a preferred sourcePublished Tue, Jun 28, 2016 · 09:50 PM
Singapore
MARSEILLE-BASED shipping company CMA CGM is set to take Neptune Orient Lines (NOL) private now that its offer has crossed the 90 per cent threshold for a delisting and is close to the 91.05 per cent mark for it to proceed with compulsory acquisition of shares held by those who have not accepted the bid.
The French shipping company, which launched an all-cash voluntary conditional general offer for the Singapore-listed company on June 6, 2016, said on Monday that its stake in NOL has hit 90.68 per cent.
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