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CMA CGM ready to delist NOL

CMA CGM has crossed the 90% ownership threshold in Singapore’s Neptune Orient Lines (NOL), the parent of boxline APL.

Following its all-cash voluntary conditional general offer) for NOL which was launched on June 6, CMA CGM now owns 2,361,044,044 shares representing approximately 90.68% of NOL’s share capital.

CMA CGM said it now intends to have NOL delisted from the main board of the Singapore Exchange, pushing through a compulsory acquisition to acquire all the remaining NOL shares.

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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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