Neptune Orient Lines (NOL) shares will be delisted from the Singapore Exchange (SGX), with effect from 9am today.
France-based CMA CGM said it has completed the exercise of its rights of compulsory acquisition of all the shares held by NOL shareholders who had not accepted the all-cash voluntary conditional general offer, at a price per share of $1.30, equal to the offer price.
CMA CGM added that the transfer of all the remaining shares that have been compulsorily acquired has been effected, and that payment for such shares has been despatched.
NOL is now a wholly-owned subsidiary of CMA CGM.
NOL had also yesterday obtained the waivers and approval from the SGX for its delisting.
This article by The Business Times was published in MyPaper, a free, bilingual newspaper published by Singapore Press Holdings.