Chinese green light CMA CGM’s takeover of NOL

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.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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