Newspaper: Sale of NOL has begun

The container carrier Neptune Orient Lines which globally operates under the APL brand, has been rumored for months to be a candidate for acquisition and the sale has now presumably begun, writes Wall Street Journal.

The ownership of the container carrier Neptune Orient Lines (NOL) has not been a cheap acquaintance for the Singaporean government which has the controlling stockholding in the carrier of 67 percent, through the investment company Temasek Holdings.

So it is not that strange that the state has presumably begun the process of exiting the relationship and divesting its investment of USD 1.7 billion. According to the Wall Street Journal, Temasek has in recent months presented the carrier - which globally operates under the APL brand - to several potential buyers, anonymous sources close to the process tell the newspaper. The parties have not yet agreed on a price however.

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