The French container line CMA CGM, one of the largest in the world, completed the absorption of Singapore’s Neptune Orient Lines Limited (NOL), according to World Maritime News.
CMA CGM bought out the remaining minority shareholders of NOL shares at a price of 0.96 dollars apiece. Thus, to the ownership of the French company moved 100% of NOL shares, and the carrier became the affiliated company of CMA CGM. NOL shares will be excluded from listing on the Singapore Stock Exchange.
Recall that CMA CGM in July this year increased its stake in NOL ownership to 97.83% of the shares. Earlier, in April, the French company signed a memorandum on the establishment of a new alliance with the Asian container carriers – Cosco Container Lines, Evergreen Line and Orient Overseas Container Lines (OOCL).
