the Board of group NOL unanimously approves of the advanced offer of takeover from CMA CGM



While the negotiations of fusion between shipowning groups Chinese COSCO are dilated beyond every reasonable term and Lower Shipping, the analogous negotiation between the French CMA CGM and the group Neptune Orient Lines (NOL) of Singapore has been concluded positively in little weeks. The Asian shipowning group in fact has communicated today that own board of directors has accepted unanimously the proposal of acquisition advanced from the French society, that had begun a phase of negotiations in exclusive right with NOL after also shipowning group Danish A.P. Møller-Mærsk had expressed intention the intention to buy the company of Singapore ( of the 9 and 23 November 2015).

Core business of group NOL, after the recent cession of the branch of activity of the logistics to the Kintetsu Japanese Express World ( on 17 February 2015), it is centralized by now only on the activity of the American President Lines (APL), company of acquired navigation in 1997 ( on 15 April 1997) and that currently he is the thirteenth world-wide operator of the segment of the services of line with a constituted fleet gives beyond 90 portacontainer for a total ability to cargo pairs to 550 thousand teu respect to a fleet of CMA CGM - third world-wide operator of the field - that is formed gives beyond 450 ships for a cargo ability total than more 1,8 million teu to which 12 portacontenitori in order for an ulterior ability join to others pairs to beyond 150 thousand teu.

The offer of the shipowning group CMA CGM for the acquisition than little more 2,6 billion actions of the NOL has a total value of about 3,38 billion dollars of Singapore (beyond USA 2,4 billion dollars). The unit price is in fact of 1,30 dollars of Singapore for each action, that it on July 16, 2015 represents a prize of 49% regarding the value of quotation 0,875 dollars, last entire day of dealings before the announcement on 19 July of the possible cession of the NOL and a prize of 33% regarding the medium value of the title in the period of three conclusosi months 16th July.

Currently the NOL is controlled by the group Temasek Holdings of Singapore that almost possesses 1,7 billion actions of the shipowning group pairs to about 65.3% of the total capital stock. "We - Tan Chong Lee has explained, in charge of the management of the pocketbook of the Temasek group - are in favor of this operation as for NOL he represents an opportunity in order to join to an operating leader with an immense total presence and a consolidated operating experience. The fusion of NOL and CMA CGM - it has emphasized - will create a navigation company leader in a position to offering a efficient and reliable service to own customers". Chong Lee has expressed also favor relatively "to the engagement of CMA CGM to develop to the role of Singapore which primary hub marine and to grow the volumes of traffic of the container of Singapore".

"The market share arranged obtained with this transaction - it has found the managing director of the NOL, Ng Yat Chung - reaches the scale necessary in order to improve the competitiveness of the activity of the NOL and clearly indicates to the new entity and a sustainable distance in the long term. The transaction would allow with NOL to grow which part of an entity of greater dimensions with the resources of the third company world-wide container".

For the vice president of the French shipowning group, Rodolphe Saadé, "this operation will represent a milestone in the development of CMA CGM. Taking advantage of the complementary strengths of both the companies - it has observed - CMA CGM will ulteriorly consolidate its position of leader in the field of shipping with an arranged turnover the pairs to 22 billion dollars and with 563 ships". Saadé has confirmed that CMA CGM "recognizes the strategic importance of Singapore which hub key for the marine field" and that the French group will be engaged to strengthen this regional leadership.

Currently NOL has beyond 7.400 dependent and records a annual turnover pairs to USA 7,04 billion dollars, while CMA CGM has 22,000 dependent and a annual turnover pairs to USA 16,74 billion dollars.