China gives green light for CMA CGM proposed acquisition of NOL
May 26 , 2016
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The Chinese government has given the go ahead for CMA CGM to take over Southeast Asia’s largest shipping company Neptune Orient Lines (NOL).
The Anti-monopoly Bureau of the Chinese Ministry of Commerce has cleared the path for the French shipping group to acquire NOL.
In an announcement today (May 25), CMA CGM says regulatory approvals have now been received from the Ministry and the European Commission on its proposed voluntary general cash offer for NOL which was initially announced last December.
CMA CGM expects to announce the final details of the $2.4 billion offer by June 2.
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