The French container carrier CMA CGM has received a green-light from the banks to buy competitor Neptune Orient Lines (NOL) in a deal which had been rumored for several weeks, according to news agency Reuters, which cites several anonymous sources.
According to the sources, CMA CGM, who plans to purchase 67 percent of Neptune Orient Lines' shareholder Temasek Holdings, secured finance through the major banks HSBC, BNP Paribas and JP Morgan Chase.
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