CMA CGM confirms exclusive discussions with Neptune Orient Lines

A combination between CMA CGM, which presented its third quarter interim report on Friday, and Singapore's NOL would contribute to the consolidation of the container shipping industry at a time when scale is more critical than ever, according to a release Sunday from CMA CGM.

French carrier CMA CGM confirms in a press release Sunday that it has entered into exclusive discussions with Neptune Orient Lines Limited (NOL) and Lentor Investments, a wholly-owned subsidiary of the government controlled investment company Temasek Holdings in Singapore, with respect to a potential combination with NOL.

The exclusivity period is expected to run until December 7th, 2015.

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