China approves CMA CGM’s acquisition of NOL

CMA CGM yesterday said it had received confirmation that its pending acquisition of Neptune Orient Lines (NOL), Southeast Asia’s largest container shipping company has been cleared by the anti-monopoly Bureau of the Chinese Ministry of Commerce (MOFCOM).

With regulatory approvals now received from MOFCOM and the European Commission on its proposed voluntary general cash offer for NOL as announced on 7 December 2015, CMA CGM expects to announce the offer latest by June 2, 2016.

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