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CMA CGM to acquire NOL, reinforcing its position in global shipping

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CMA CGM to acquire NOL, reinforcing its position in global shipping

France | December 08, 2015 | 13:43 PM / 886

LOCO News Team | LOCO

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Proposed cash acquisition of NOL at SGD 1.30 per NOL share, representing a 49% premium to NOL’s unaffected share price, fully financed Strategic acquisition resulting in combined turnover of USD 22 billion and fleet size of 563 vessels Complementary geographical strengths enhance the diversity of CMA CGM’s trade portfolio and consolidate its position on strategic trade routes CMA CGM will establish its regional head office in Singapore, which will reinforce Singapore’s leadership position in the shipping industry Significant operational synergies Transaction is unanimously approved and recommended by NOL Board NOL’s majority shareholders (Temasek and its affiliates) fully support the transaction and have irrevocably undertaken to tender all of their shares into the Offer

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