CMA CGM makes offer to secure EU approval NOL purchase

The French container carrier is ready to enter into a compromise with the EU to get the carrier's acquisition of Singapore-based Neptune Orient Lines (NOL) approved, writes Reuters. The move could see NOL pulled from alliances. 

Photo: CMA CGM

CMA CGM, the world's third largest container carrier behind Maersk Line and MSC, is willing to offer a range of concessions in order to secure approval from the EU's competitions authorities for its large-scale acquisition of Singapore-based Neptune Orient Line (NOL).

To allay the policy concerns of the competition authorities concerning the USD 2.4 billion acquisition, CMA CGM has allegedly agreed to pull NOL out of competing shipping alliances, writes Reuters, citing sources familiar with the matter.

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