NOL acquisition triggers billion dollar divestments at CMA CGM

When the acquisition of Neptune Orient Lines (NOL) is finalized, French CMA CGM plans to divest assets for at least USD 1 billion. The carrier will also open regional headquarters in Singapore.

BY KATRINE GRØNVALD RAUN

On Monday morning, CMA CGM announced its acquisition of Neptune Orient Lines (NOL) for USD 2.4 billion, a transaction that primarily awaits regulatory approval from competition authorities in the US, China and Europe, and which is not expected to be completed before mid-2016. When the deal is fully settled, the French container carrier expects to divest assets and gain synergies over the next two years totaling at least USD 1 billion, in order to reduce its gearing, informs the carrier in the statement.

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