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CMA makes conditional general offer for NOL
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Nisha Ramchandani
Published Mon, May 30, 2016 · 09:50 PM
Singapore
AFTER meeting the necessary pre-conditions, France's CMA CGM has made a voluntary conditional general offer for Neptune Orient Lines (NOL), which in turn has appointed Maybank Kim Eng Securities as the independent financial adviser for the takeover offer.
Container shipping giant CMA has no intention to increase the offer price of S$1.30 per share, it said in a release to the Singapore Exchange on Monday. The offer values NOL at S$3.4 billion.
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