CMA CGM RECEIVES APPROVAL FOR NOL ACQUISITION

CMA CGM has obtained regulatory approval from the European Commission for its proposed acquisition of Singapore’s Neptune Orient Lines.

 

The European Commission, which was given notice of the transaction on March 8, 2016, carried out a Phase 1 review before granting approval, on the condition that NOL leave the G6 alliance.

 

The proposed cash acquisition was announced on December 7, 2015.