CMA CGM crosses 90% ownership threshold in NOL, will proceed to delist company

SINGAPORE - French shipping company CMA CGM announced on Monday (June 27) that it has crossed the 90 per cent ownership threshold in Neptune Orient Lines (NOL).

CMA CGM said it now intends to have NOL delisted from the main board of the Singapore Exchange, pushing through a compulsory acquisition to acquire all the remaining NOL shares.

Following its all-cash voluntary conditional general offer for NOL, launched on June 6, CMA CGM said it now owns 2,361,044,044 shares representing approximately 90.68 per cent of NOL's share capital.