CMA CGM’s offer to acquire NOL goes unconditional

CMA CGM’s offer to acquire Neptune Orient Lines (NOL) has been declared wholly unconditional as the Singapore-based carrier’s majority shareholders tendered shares in its acceptance.

Temasek and its affiliates’ tender of all of their shares in NOL brought the French group’s stake in the company to 78.07%.

The current stake include 10.79% of shares acquired in market purchases and 67.29% of shares in acceptances received, among which 66.77% tendered by Temasek and its affiliates.