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CMA CGM's proposed acquisition of NOL cleared by the Chinese Ministry of Commerce

Date 26-May-2016
Subject CMA CGM's proposed acquisition of NOL cleared by the Chinese Ministry of Commerce

MARSEILLE : CMA CGM S.A. (CMA CGM), a global leader in container shipping, announces that it has received confirmation that its pending acquisition of Neptune Orient Lines (NOL), Southeast Asia’s largest container shipping company, 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 as announced on 7 December 2015 (Offer), CMA CGM expects to announce the Offer by June 2, 2016 at the latest.

Source: - Dailyshippingtimes.com

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