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Freight News, Sea
CMA in merger talks with NOL
[ November 23, 2015 // Karen Thuermer ]French-based global liner company CMA CGM says it has entered into exclusive discussions with rival operator Neptune Orient Lines (NOL) and its controlling shareholder, Lentor Investments on a potential combination. The exclusivity period is expected to run until 7 December.
CMA CGM said that, “should these discussions lead to an agreement, such a combination would contribute to the consolidation of the container shipping industry, at a time when scale is more critical than ever.” it would also reinforce CMA CGM as a global force in container shipping.
However, the line stressed that no agreement has yet been reached.