NOL submits binding offer for Hapag-Lloyd
Sep 29, 2008
· Sea
· Strategic Issues

NOL has confirmed that it submitted a binding bid on September 26th to acquire the Hapag-Lloyd container shipping business.

NOL points out that any agreement would be subject to acceptance of the bid by Hapag-Lloyd's owner, TUI, as well as regulatory approvals and shareholders' approval.
NOL submitted an indicative non-binding bid to acquire Hapag-Lloyd to TUI in July 2008, and was invited to continue onto the next phase of the bidding process in August.
NOL remains bound by strict confidentiality undertakings; consequently the details of NOL's bid have not been disclosed.
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