CMA CGM closer to NOL acquisition

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Gabrielle Easter

BY GABRIELLE EASTER

@gab_produceplus

CMA CGM closer to NOL acquisition

CMA CGM has entered into exclusive discussions with Neptune Orient Lines bringing it one step closer to acquiring the global shipping line

CMA CGM closer to NOL acquisition

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French-headquartered shipping line CMA CGM has entered into exclusive discussions with Neptune Orient Lines (NOL) to potentially acquire to third-largest container shipping company.

“Should these discussions lead to an agreement, such a combination would contribute to the consolidation of the container shipping industry, at a time when scale is more critical than ever,” CMA CGM said in a statement released 22 November.

"It would further reinforce CMA CGM as a global force in container shipping, leveraging the strong geographic and operational complementarity of both groups.”

The exclusivity period is expected to run until 7 December 2015, according to CMA CGM.

NOL has been seeking a buyer for several months, previously confirming it had been in preliminary discussions with Denmark's Maersk as well as CMA CGM in regards to a potential acquisition of NOL.

 

 

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