MSC signed an agreement to buy Bolloré Africa Logistics for €5.7 billion

Bolloré Africa Logistics (Photo: AfricaLogisticsMagazine)

MSC Group confirms that it has entered into a share purchase agreement with Bolloré SE regarding the acquisition of 100% of the shares of Bolloré Africa Logistics (including all of its shipping, logistics and port operations). Bolloré Group in Africa, as well as port operations in India, Haiti and in Timor-Leste) at an enterprise value-based purchase price of €5.7 billion ($6.3 billion).

The signing of this agreement was made following a thorough and active consultation process with the participation of representatives of Bolloré Group employees.

However, "Completion remains subject to the receipt of approvals, including from the relevant competition authorities," added MSC Group.

"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," said MSC Group.

"The Bolloré Group will remain strongly involved in Africa, notably through Canal+, and will also continue to develop on this continent its activities in numerous sectors such as communications, entertainment, telecommunications and publishing," a statement from the group said.

Previously, on December 21, 2021, Bollore Group said that: "The Bolloré Group has granted the MSC Group an exclusivity until March 31, 2022, to enable the MSC Group, further to an additional due diligence phase and contractual negotiations, to submit a put option."

Read more:

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• MSC deploys global electronic bill of lading (eBL)

Source: Phaata.com (According to MSC | Logistics Update Africa)

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