CMA CGM $2.4 billion acquisition of Neptune Orient Lines

Overview:

• CMA CGM has acquired Neptune Orient Lines for S$3.4 billion. 
• Neptune Orient Lines is a Singapore based global container shipping company.
• The company paid S$1.3 per share.
• The acquisition resulted in a new entity worth $22 billion owning 560 shipping vessels. 
• CMA CGM is a Marseille headquartered shipping company.
• This was the CMA CGM's largest ever acquisition and confirms it's position as the third largest shipping company globally. 
• $1.65 billion of the financing for the acquisition was provided by ING, JPMorgan, JPMorgan Securities, BNP Paribas, UniCredit, Société Générale and HSBC. 
• Citigroup Global Markets acted as financial adviser to Neptune Orient Lines.

John Crabb - Journalist