CMA CGM takes full control of NOL
CMA CGM has announced that it has crossed the 90% ownership threshold in NOL and plans to delist the company from the Singapore Stock Exchange.
According to MANA, “Following its all-cash voluntary conditional general offer for NOL, which was launched on June 6th, CMA CGM now owns 2,361,044,044 shares representing approximately 90.68% of NOL’s share capital,” the French line said in a statement.In addition, CMA CGM intends to have NOL delisted from the main board of the SGX.
CMA CGM is offering NOL shareholders the offer price of S$1.30 per NOL share in cash. CMA CGM will not increase the offer price. Shareholders have until July 18 to accept the offer.