NOL has just confirmed that CMA CGM and its largest shareholder, Lentor Investments Pte Ltd, have been named as exclusive bidder for the potential acquisition of NOL by way of a pre-conditional voluntary general offer.

For CMA CGM, the exclusivity will last until 23:59 hours on December 7 in order to complete the customary due diligence process on the NOL acquisition.

NOL emphasizes that “there is no assurance that such negotiation will result in any definitive agreement or transaction, or that any offer for NOL will be made.”

By Paul Richardson