US Military’s Pier in Gaza to Cost $320 Million
WASHINGTON, April 29 (Reuters) – The U.S. military’s cost estimate to build a pier off Gaza to deliver humanitarian aid has risen to $320 million, a U.S. defense official and a source familiar with...
CMA CGM is likely to pay a significant premium over NOL’s “unaffected price”, the level in early November when the Singapore shipping firm had confirmed talks with potential acquirers, the source said, who declined to be named ahead of the announcement expected later on Monday.
A deal with Temasek will be followed by an offer for the remaining shares in the Singapore-listed firm under local rules.
NOL, which has a market capitalization of $2.3 billion, has struggled amid a prolonged downturn in the global shipping market, posting four years of consecutive losses. But its plans to offload assets have helped buoy the company’s share price by roughly 45 percent so far this year. (Reporting by Saeed Azhar; Editing by Ryan Woo and Edwina Gibbs)
(c) Copyright Thomson Reuters 2015.
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