China clears acquisition of Neptune Orient Lines by CMA CGM

Container carrier CMA CGM S.A. announced that it has received confirmation that its pending acquisition of Neptune Orient Lines (NOL), Southeast Asia’s largest container shipping company, has been cleared by the Anti-monopoly Bureau of the Chinese Ministry of Commerce (MOFCOM).

NOL’s container shipping arm, APL, provides container shipping and terminal services, as well as intermodal operations. APL offers transcontinental cargo shipping across Asia, North and South America, Europe, the Middle East, the Indian subcontinent.

With regulatory approvals now received from MOFCOM and the European Commission on its proposed voluntary general cash offer for NOL as announced in December 2015, CMA CGM expects to finalize the deal.

CMA CGM is a leading worldwide shipping group. Its 450 vessels call at more than 400 ports in the world, across all 5 continents.

The acquisition is expected to result in a combined turnover of US $22 billion and fleet size of 563 vessels.

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