© Khunaspix Dreamstime.

As CMA CGM continues to perform the due diligence on Singapore’s NOL in its quest to acquire it, one of the chief issues raised by analysts is whether it has the funds to actually complete the deal, which is likely to be in the region of $5bn. The Wall St Journal reports here that the French carrier is now in talks with a series of domestic banks to arrange the finance, which it needs to have in place by Monday, when the period of “exclusive” talks with NOL come to a close. Acquiring full control of NOL is complicated, “If CMA CGM makes an offer to buy Temasek’s 65% stake in NOL, Singapore takeover rules require that the French shipper make an offer for the whole company. According to Singapore laws, an acquirer has to make an offer to buy the whole company if its stake tops 30%.”

Comment on this article

You must be logged in to post a comment.