French container shipping giant CMA CGM has received approval from the European Commission for its acquisition of Neptune Orient Lines (NOL).
NOL is Southeast Asia’s largest container shipping company operating some 90 vessels whilst CMA CGM currently has a fleet of 471 vessels.
The proposed transaction was notified to the European Commission on March 8, 2016 and was cleared today following a Phase 1 review, under the condition of NOL’s exit from the G6 shipping alliance.
This condition has been already committed by NOL and CMA CGM and thus paves the way for the USD $2.4 billion takeover.
Ship Efficiency Review News
To contact the reporter responsible for this article, please email editor@fathom-mi.com
