Neptune Orient says not made decision on company’s potential sale / BusinessTimes

Jul 20, 20158:35 AM

[SINGAPORE] Neptune Orient Lines Ltd said it has not made any decision on a potential sale of the company, nor entered into any agreement, after media reports that Temasek Holdings had put the shipping company up for sale.

Singapore state investor Temasek, which owns nearly 67 per cent of Neptune, had hired a bank to seek buyers for the business that made a net loss in five of the past six years, sources told Reuters last week. “The company has a duty to consider its options to maximise shareholder value as part of its conduct of normal business,” Neptune Orient said in a statement late on Sunday. “The company has not made any decision with respect to, and has not entered into any agreement for, a potential sale of the company and there is no assurance that any agreement for the sale of the company will be entered into,” it said.

The company advised investors to exercise caution when dealing in its shares and other securities.

REUTERS

http://www.businesstimes.com.sg/companies-markets/neptune-orient-says-not-made-decision-on-companys-potential-sale

Advertisements

Come, leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s