Media: Banks grant finance for CMA CGM's acquisition

The French container carrier CMA CGM has secured financing from the banks to acquire Neptune Orient Lines, a plan which has been on the cards for weeks, say anonymous sources to news agency Reuters.

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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