The French carrier has made a preliminary offer for NOL and is conducting due diligence although it has not been granted exclusivity, according to local media reports.
Temasek Holdings, Singapore’s sovereign wealth fund, has been seeking a buyer for its 67 percent stake in NOL, which has a market value of $2.7 billion, for several months.
CMA CGM Vice-Chairman Rodolphe Saade was recently quoted as saying the Marseille-based carrier is open to mergers and acquisitions to grow its business.
Maersk also declined to comment on reports that it has also held talks about an acquisition though negotiations are less advanced than CMA CGM’s.
NOL last week reported a third-quarter loss of $98 million, up from $23 million a year earlier, as sinking freight rates and lower traffic outweighed cost-saving measures.
NOL sold its logistics unit APL Logistics to Japanese freight forwarder Kintetsu World Express for $1.24 billion in May.
