CMA CGM’s all-cash voluntary general offer for Singapore’s Neptune Orient Lines has closed and the French line now owns 2.547,264,348 NOL shares, amounting to about 97.83% of NOL’s share capital.

According to CMA CGM, Singapore Exchange Securities Trading Limited will suspend the trading of NOL’s shares, since they are below the minimum threshold of 10%.

CMA CGM has now crossed the compulsory acquisition ownership threshold and intends to exercise its rights to compulsorily acquire all the NOL shares held by shareholders who have not accepted the CMA CGM’s offer.

NOL will become a wholly owned subsidiary of CMA CGM and will be delisted from the Singaporean stock exchange, according to CMA CGM.