Singapore’s national shipping company Neptune Orient Lines Limited (NOL) has been acquired by CMA CGM for $2.5bn.
CMA CGM, a French shipping firm, completed the transaction by acquiring 97.83% of share capital in NOL following its all-cash voluntary unconditional general offer for NOL, which closed earlier this week.
The firm has now initiated the process to acquire the remaining 2% of shares that will be purchased at the same price as the voluntary offer.
Stolt-Nielsen, a leading provider of bulk-liquid transportation, will buy Jo Tankers’ chemical tanker business for approximately $575m.
The UK-based company will acquire 13 chemical tankers as part of the acquisition, as well as a 50% share percentage in a joint venture for eight chemical tanker new-builds, featuring eco-friendly stainless steel ships.
The 13 chemical tankers include eight stainless steel ships and five ships with a combination of stainless steel and coated tanks.
Jo Tankers is a Norwegian deep-sea transportation services provider for chemicals and other high-value liquids.
Germany-based Hapag-Lloyd has signed a business combination agreement (BCA) to merge with United Arab Shipping Company (UASC) and form the world’s fifth biggest container shipping firm.
The new firm is expected to have an annual transport volume of ten million twenty-foot equivalent units (TEU) and a combined turnover of approximately $12bn. It will hold 237 vessels, including UASC´s six recently acquired 18,800TEU ships as well as 11 newly built 15,000TEU ships.
Pursuant to the merger, a shareholders support agreement (SSA) was signed between the shareholders of the two companies regarding the company’s future equity funding.