CMA CGM Offers Concessions to Get EU Approval for $2.4 Billion NOL Deal

BRUSSELS, April 11 - French container shipping group CMA CGM has offered concessions in a bid to win European Union antitrust approval for its $2.4 billion takeover of Singaporean rival Neptune Orient Lines. CMA CGM, which ranks behind No. 1 Maersk Line and Swiss peer MSC in global shipping, submitted the concessions on Thursday, a filing on the European Commission website … [Read more...]

NOL/APL… a missed opportunity for Maersk?

By Alessandro Pasetti (TheLoadstar) This month, Singapore container shipping line Neptune Orient Lines finally agreed to be acquired by France’s CMA CGM in a cash deal that values its equity at $2.4bn. Do not feel sorry for the other potential buyer, market leader Maersk, which has been left with limited options for its shipping line division – I believe it did well to bow out … [Read more...]

CMA CGM Chiefs Eye ‘Significant’ Operational Synergies in Plan for Integrating APL

By Mike Wackett,  (The Loadstar) On the assumption that CMA CGM’s acquisition of NOL receives the approval of anti-trust authorities next year, senior executives are drafting integration plans for the two shipping groups. In the case of Hapag-Lloyd’s takeover of CSAV’s container business, overlaps in services and rationalisation enabled the German carrier to … [Read more...]

CMA CGM Set to Buy Majority Stake in NOL -Source

SINGAPORE, Dec 7 (Reuters) - France's CMA CGM is set to buy a stake of almost 67 percent in Neptune Orient Lines from Singapore state investor Temasek Holdings, a source with knowledge of the deal said. 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 … [Read more...]

NOL Suspends Shares as M&A Talks Enter Final Day

SINGAPORE, Dec 7 (Reuters) - Shares of Singapore's Neptune Orient Lines Ltd (NOL) were suspended on Monday as talks between French shipping giant CMA CGM SA to acquire NOL from its controlling shareholder Singapore state investor Temasek Holdings entered the final day. NOL announced on Nov. 21 that exclusive talks between CMA and a unit of Temasek, which owns nearly 67 … [Read more...]