CMA CGM set to acquire NOL

Following the satisfaction and waiver (as the case may be) of the pre-conditions set forth in the Pre-Conditional Offer Announcement dated 7 December 2015, CMA CGM S.A. (CMA CGM), a global leader in container shipping, today announced its firm intention to make an all-cash voluntary conditional general offer (Offer) for all the outstanding shares of Neptune Orient Lines Limited (NOL), other than those it already owns, controls or has agreed to acquire.

The Offer Price is SGD 1.30 in cash per NOL share, which CMA CGM does not intend to increase.

Further details of the Offer are set out in the Offer Announcement dated 30 May 2016, and full details of the Offer will be set out in the Composite Document, which will comprise the Offer Document and NOL's circular to its shareholders, to be despatched to NOL shareholders as soon as practicable following the date of the Offer Announcement.

About the 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 grown continuously, and has been constantly innovating to offer its clients new sea, land and logistics solutions.
With a presence in 163 countries, through its network of over 426 offices, the Group employs 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.