The French line, which launched its SGD1.30 per share takeover offer for NOL on 6 June, said it now owns 90.68% of the shares in the Singapore-listed shipping line.
This means that the means that NOL has now fallen below the required 10% minimum public float for trading on SGX. CMA CGM said it now plans to de-list NOL from the exchange.
It also said would exercise the right to compulsory acquire all shares in NOL it does not own if it acquires more than 91.05% of the company, and would make an announcement accordingly.
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