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neptune orient lines nol

CMA CGM Has Acquired Control of Neptune Orient Lines (NOL)

June 14, 2016 12:05 am Published by

Led by Temasek Holdings, CMA CGM has acquired controlling stake (approximately 78.07%) of Neptune Orient Lines (NOL) from majority shareholders, for an investment of $2.5 billion.

We are supportive of this transaction as it presents NOL with an opportunity to join a leading player with an extensive global presence and solid operational track record. The combination of NOL and CMA CGM will create a leading shipping company that delivers reliable and efficient service to its customers.- Temasek Holdings Portfolio Management Group Joint Head

With the acquisition of NOL, CMA CGM intends to improve its current position in the container shipping industry, which at the moment boasts a capacity of nearly 2.4 million TEUs, a market share of 11.7 percent, a fleet of 540 shipping vessels, and a combined annual turnover of an estimated $21 billion.

Temasek, which owns terminal operator PSA International, announced that it would form a joint venture company with CMA CGM to lease and operate four container berths in the port of Singapore.

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