Mediterranean Shipping Company (MSC) Group, a Swiss container shipping firm and a player in container transport and logistics, said its wholly owned subsidiary, SAS Shipping Agencies Services, has completed the acquisition of Bolloré Africa Logistics.
According to MSC, the transaction was approved by all applicable regulatory authorities.
MSC’s acquisition of Bolloré Africa Logistics SAS and its affiliates, Bolloré Africa Logistics Group, highlights the long-term commitment of MSC to invest in African supply chains and infrastructure, supporting the needs of clients of both businesses.
MSC said it will operate Bolloré Africa Logistics Group as an autonomous entity with its portfolio of diversified partners, under a new brand to be unveiled in 2023.
It also confirmed that Philippe Labonne will continue his longstanding role at the helm of the business as president of Bolloré Africa Logistics.
MSC further said that it intends to continue enhancing the continent’s connectivity with the rest of the world and enable trade within Africa amid the implementation of the Continental Free Trade Agreement (AfCFTA).
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Backed by MSC Group’s financial strength and operational expertise, Bolloré Africa Logistics will be able to meet all its commitments to governments, particularly regarding port concessions.
“We are delighted to welcome more than 21,000 new colleagues to the MSC family through our acquisition of Bolloré Africa Logistics. I wish to thank the Bolloré family, and Cyrille in particular, for having conducted the transaction in a smooth and efficient way and I congratulate them for having created such a well-established business,” Diego Aponte, president of MSC Group, said.
According to him, the deal will strengthen MSC’s longstanding ties with Africa and will reinforce its commitment to the continent’s economic growth.
He said that it will also drive investment in the ships, shipyards, container terminals, logistic solutions, storage facilities, and road and rail networks that will support and enhance trade across the African continent and with the rest of the world.
“Our strategy remains rooted in our values and in our long-term vision that protects over 150,000 employees in 155 countries worldwide,” Aponte added.
In December 2021, the Bolloré Group announced that it received an offer of €5.7 billion from the MSC Group to acquire 100 percent of Bolloré Africa Logistics.
Bolloré Africa Logistics comprises the Bolloré Group’s transport and logistics activities in Africa.
Then, it was said that the Bolloré Group granted the MSC Group exclusivity until 31 March 2022 to enable it to carry out additional due diligence and contractual negotiations.
