Neptune Orient Lines says in exclusive talks with France’s CMA CGM
By: Reuters | Nov 21 2015 at 03:49 PM | Liner Shipping
PARIS - Neptune Orient Lines Ltd said on Saturday it has entered exclusive talks with France’s CMA CGM, the world’s third-largest container shipping firm, over a potential acquisition of the Singapore-based company.
Neptune Orient Lines Ltd (NOL), controlled by Singapore state investment company Temasek Holdings, said in a statement it had entered the exclusive talks until Dec. 7.
NOL, which has struggled in a prolonged downturn in the global shipping market, said this month it was in preliminary discussions with CMA CGM and A.P. Moller-Maersk.
CMA CGM could not be immediately reached for comment.