Deals
CMA CGM, Maersk in Talks to Buy Singapore's Neptune Orient Lines
- French carrier makes preliminary offer for Temasek-backed firm
- A.P. Moeller-Maersk also in discussions for Neptune Orient
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Neptune Orient Lines Ltd. said it’s in separate talks with France’s CMA CGM SA and Denmark’s A.P. Moeller-Maersk A/S on a potential sale of the Singapore container shipping company.
“NOL has a duty to assess all options to maximize shareholder value and improve its competitiveness,” the company said in a statement to the Singapore stock exchange Saturday, adding that the discussions are preliminary and there’s no assurance that a definitive agreement will be reached.