In response to CMA CGM’s pre-conditional voluntary general cash offer for Neptune Orient Lines, Tan Chong Lee, Head Portfolio Management, said: “We are supportive of this transaction as it presents NOL with an opportunity to join a leading player with an extensive global presence and solid operational track record. The combination of NOL and CMA CGM will create a leading shipping company that delivers reliable and efficient service to its customers. Their complementary strengths will yield mutually beneficial results. We also note and welcome the commitment of CMA CGM to enhance Singapore’s position as a key maritime hub and grow Singapore’s container throughput volumes.”

For more details, please refer to the joint CMA CGM and NOL press release here.