After months of negotiations, MSC has agreed with French Bolloré Group on acquisition of its African logistics business. The deal is yet another example of major container carriers’ entry into logistics.
Swiss-Italian MSC confirms its plans to buy into logistics through a deal on taking over Bolloré’s African logistics business.
After months of negotiations, MSC has just agreed with Bolloré Group on acquiring Bolloré Africa Logistics, informs MSC in a statement Thursday.
The announcement comes after it emerged at the end of last year that MSC had offered to buy the French transportation and media conglomerate’s wide-ranging African logistics activities. Bolloré provided MSC with exclusive right to due diligence as well as negotiations towards the end of March 2022, it was stated at the time.
”The signing of this agreement follows a thorough and positive consultation process with representatives of employees of the Bolloré Group,” reads the MSC announcement.
The acquisition ofBolloréAfrica Logistics reaffirmsMSC Group’s longstandingcommitment to invest inAfricaand to strengthen supply chainsacross the continent, as well as connecting it to the rest of the world
MSC
The deal represents yet another example of major container lines entering logistics. Also Maersk and CMA CGM have declared intentions to grow within logistics, resulting in large-scale acquisitions.
According to MSC, the purchase price of the African logistics business is based on an enterprise value of EUR 5.7bn, net of minority interests.
The deal includes all Bolloré Group’s shipping, logistics and terminal operations in Africa as well as terminal operations in India, Haiti and Timor-Leste.
”The acquisition of Bolloré Africa Logistics reaffirms MSC Group’s longstanding commitment to invest in Africa and to strengthen supply chains across the continent, as well as connecting it to the rest of the world,” writes MSC.
Before the final completion of the acquisition, the deal needs approval from different competition authorities.
