• ITVI.USA
    15,845.180
    -15.980
    -0.1%
  • OTLT.USA
    2.806
    0.013
    0.5%
  • OTRI.USA
    21.590
    0.130
    0.6%
  • OTVI.USA
    15,846.760
    -20.840
    -0.1%
  • TSTOPVRPM.ATLPHL
    2.950
    -0.570
    -16.2%
  • TSTOPVRPM.CHIATL
    3.610
    0.650
    22%
  • TSTOPVRPM.DALLAX
    1.370
    -0.240
    -14.9%
  • TSTOPVRPM.LAXDAL
    3.550
    0.210
    6.3%
  • TSTOPVRPM.PHLCHI
    2.320
    0.220
    10.5%
  • TSTOPVRPM.LAXSEA
    4.110
    0.250
    6.5%
  • WAIT.USA
    126.000
    0.000
    0%
  • ITVI.USA
    15,845.180
    -15.980
    -0.1%
  • OTLT.USA
    2.806
    0.013
    0.5%
  • OTRI.USA
    21.590
    0.130
    0.6%
  • OTVI.USA
    15,846.760
    -20.840
    -0.1%
  • TSTOPVRPM.ATLPHL
    2.950
    -0.570
    -16.2%
  • TSTOPVRPM.CHIATL
    3.610
    0.650
    22%
  • TSTOPVRPM.DALLAX
    1.370
    -0.240
    -14.9%
  • TSTOPVRPM.LAXDAL
    3.550
    0.210
    6.3%
  • TSTOPVRPM.PHLCHI
    2.320
    0.220
    10.5%
  • TSTOPVRPM.LAXSEA
    4.110
    0.250
    6.5%
  • WAIT.USA
    126.000
    0.000
    0%
American Shipper

P&O NEDLLOYD PARENT URGES STOCK MARKET LISTING BY END-2003

P&O NEDLLOYD PARENT URGES STOCK MARKET LISTING BY END-2003

   Royal Nedlloyd N.V., the Dutch group that owns 50 percent of the P&O Nedlloyd container shipping joint venture, aims to change the shareholder structure of the P&O Nedlloyd by the end of 2003.

   Haddo Meijer, chairman of Nedlloyd, said that he would be “disappointed” if P&O Nedlloyd was not listed on the stock market as an independent company by the end of the year.

   Nedlloyd has discussed with the P&O group — the other 50-percent parent of P&O Nedlloyd — a stock market listing for their joint venture company since at least 2001.

   One of the proposals put forward by Nedlloyd is a “reverse takeover,” whereby P&O Nedlloyd would replace Nedlloyd as a public company on the Amsterdam stock exchange. However, Nedlloyd and P&O have until now been unable to agree on a future structure and potential stock market listing for P&O Nedlloyd.

   Nedlloyd is also considering a dual stock market listing of P&O Nedlloyd — in Amsterdam and London.

   A spokesman for Nedlloyd said that, once a new shareholder structure has been adopted at P&O Nedlloyd, “the company would be ready for a large acquisition.”

   “At the moment, we are not busy with an acquisition,” he told AS+.

   P&O Nedlloyd was established through the merger of P&O Containers and Nedlloyd Lines at the end of 1996, when it was the world’s largest container shipping group. P&O Nedlloyd now ranks as the third largest carrier in containership capacity.

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