Neptune Orient Lines Limited has announced earlier tday its single largest shareholder, Lentor Investments Pte. Ltd., a wholly-owned subsidiary of Temasek Holdings, have entered into an exclusivity agreement with CMA CGM S.A. with respect to a potential acquisition of NOL by way of pre-conditional voluntary general offer.
Pursuant to the agreement, NOL and Lentor have granted CMA CGM exclusivity until 7 December 2015 to complete customary confirmatory due diligence on NOL and its subsidiaries and negotiate the definitive agreements to be entered into in relation to the Offer.
NOL declared there is no assurance that such negotiation will result in any definitive agreement or transaction or that any offer for NOL will be made. NOL will make an appropriate announcement in the event that there are any material developments.
