News / CMA CGM $2.4bn offer for APL accepted in deal to create third-biggest box carrier

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CMA CGM has confirmed its offer of S$3.4bn ($2.4bn) in cash for the 67% stake in the APL container group owned by Temasek has been accepted.

NOL’s shares were suspended this morning on the Singapore Stock Exchange.

Under Singapore law CMA CGM would be required to make an offer for the remaining shares in the company once it has obtained more than 30% of the company’s voting rights.

Once completed, the deal would represent the largest consolidation in the history of liner shipping ...