On April 29, the European Commission formally approved the acquisition of French CMA CGM Nol, which will also become the global shipping industry in recent years, one of the largest acquisition.

CMA CGM group recently announced that the company has received approval of the European Commission, approved by the CMA CGM intends to spend $24 billion acquisition of Southeast Asia's biggest container shipping company Nol.

It is reported that CMA CGM on March 8th, the EU submitted to the acquisition of the application, after the first phase of the review, according to Nol from shipping G6 alliance from the reality, approved in the European Union.

CMA CGM is the world's third largest container shipping company, is seeking to consolidate its position in the market, against bigger rivals Maersk, mediterranean shipping.

The EU said in a statement, approved by the CMA CGM acquisition of nol condition is that the NOL exit from the G6 alliance.

EU competition commissioner Margrethe Vestager said that the container shipping plays a central role in Global trade, so the competition for European businesses and consumers is very important.

Prior to soon also announced formally and COSCO Container Lines, Evergreen Marine and orient overseas to build shipping alliance, will begin operations in April 2017. The new alliance is said to be of 2M dominant East-West trade challenges.

It is reported that this is one of the largest acquisition of the global shipping industry in recent years. Shipping history after the 2005 Maersk takeover of P&O Nedlloyd's $2 billion 900 million. After the completion of the acquisition of NOL Asia to America line will be powerful supplement to the existing layout of the CMA CGM shipping. In April this year, the EU had to postpone the antitrust review of the acquisition time.

CMA CGM group is the world's third largest shipping company, with 22000 employees, 170 routes and 470 container ships. While Neptune Orient fleet has 94 ships, mainly through aPL in the world more than 50 countries of the port operators more than 80 weekly service route. The combined fleet size will reach 2 million 330 thousand TEU, accounting for 11.5% of the global scale. Last December 7th, CMA CGM announced a $2 billion 400 million acquisition of Haihuang group. After the completion of the acquisition, CMA will establish regional headquarters in singapore.