CMA CGM’s proposed acquisition of NOL cleared by the Chinese Ministry of Commerce

CMA CGM S.A. (CMA CGM), a global leader in container shipping, has received confirmation that its pending acquisition of Neptune Orient Lines (NOL), Southeast Asia’s largest container shipping company (SGX: N03), has been cleared by the Anti-monopoly Bureau of the Chinese Ministry of Commerce (MOFCOM), the French Group said Wednesday in a press release.

With regulatory approvals now received from MOFCOM and the European Commission on its proposed voluntary general cash offer for NOL as announced on 7 December 2015 (Offer), CMA CGM expects to announce the Offer by June 2, 2016 (before 7 a.m.) at the latest.

About CMA CGM Group
CMA CGM, founded and led by Jacques R. Saadé, is a leading worldwide shipping group. Its 450 vessels call at more than 400 ports in the world, across all 5 continents. In 2015, they carried 13 million TEUs (twenty-foot equivalent units). CMA CGM has a presence in 163 countries, through its network of over 426 offices, employing 22,000 people worldwide, including 2,400 at its headquarters in Marseille.

About NOL
Headquartered in Singapore, NOL is the largest shipping company listed on the Singapore Exchange. Its container shipping arm, APL, provides world-class container shipping and terminal services, as well as intermodal operations supported by leading-edge IT and e-commerce. APL offers transcontinental cargo shipping across Asia, North and South America, Europe, the Middle East, the Indian subcontinent and Australia through more than 80 weekly services calling at 160 ports worldwide.