AsiaContainersEurope
Chinese green light CMA CGM’s takeover of NOL
CMA CGM has received today confirmation that its pending acquisition of Neptune Orient Lines (NOL), which runs boxline APL, has been cleared by the anti-monopoly bureau of the Chinese Ministry of Commerce (MOFCOM).
With regulatory approvals now received from MOFCOM and the European Commission on its proposed voluntary general cash offer for NOL, CMA CGM expects to announce the offer by June 2 at the latest.
June 2 promises to be an important day in containershipping as that is also the date when shareholders in Middle Eastern company UASC will decide whether to merge with German boxline, Hapag-Lloyd.