CMA CGM reinforcing its position in global shipping

• Proposed cash acquisition of NOL at SGD 1.30 per NOL share, representing a 49% premium to NOL’s unaffected share price, fully financed
• Strategic acquisition resulting in combined turnover of USD 22 billion and fleet size of 563 vessels
• Complementary geographical strengths enhance the diversity of CMA CGM’s trade portfolio and consolidate its position on strategic trade routes
• CMA CGM will establish its regional head office in Singapore, which will reinforce Singapore’s leadership position in the shipping industry
• Significant operational synergies
• Transaction is unanimously approved and recommended by NOL Board
• NOL’s majority shareholders (Temasek and its affiliates) fully support the transaction and have irrevocably undertaken to tender all of their shares into the Offer

Sources : CMA-CGM Website 

UP HC Makes Compulsory For Politicians To Send Their Kids To Govt. Schools

The pathetic conditions of the government primary schools in Uttar Pradesh has forced the Allahabad High Court to issue directives to the Chief Secretary to ensure that children/wards of government officials/servants, those serving in the local bodies, representatives of people and judiciary, etc., send their wards to these schools.

“Only then would they be serious enough to look into the requirements of these schools and ensure that they are run in good condition,” the court observed as reported by TOI..

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