NOL deal commands a decent price multiple for investors

Sydney

IT'S cheaper to put your belongings on a container ship and send them around the world for a year than to stick them in a land-based self-storage facility, according to freight forwarders Flexport. So it's a good time for Singapore investment company Temasek Holdings to sell the city- state's shipping line, Neptune Orient Lines (NOL).

France's CMA CGM will pay about S$1.30 a share for the container line, people with knowledge of the matter told Bloomberg on Monday, valuing the company at S$3.4 billion. Temasek will get about S$2.3 billion for its 67 per cent stake.