CMA CGM confirms that it has entered into exclusive discussions with Neptune Orient Lines Limited (NOL) and Lentor Investments Pte. Ltd. (a wholly-owned subsidiary of Temasek Holdings (Private) Limited), its controlling shareholder, with respect to a potential combination with NOL. The exclusivity period is expected to run until December 7th, 2015.
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.
No agreement has yet been reached and no assurance can be given that these discussions will lead to a definitive agreement.