The Bolloré Group has announced that it has received an offer from the Mediterranean Shipping Company (MSC) Group, a Swiss container shipping firm and a major player in container transport and logistics, to acquire 100 percent of Bolloré Africa Logistics.
Bolloré Africa Logistics comprises the Bolloré Group’s transport and logistics activities in Africa, on the basis of an enterprise value, net of minority interests of €5.7 billion.
It was said that the Bolloré Group has granted the MSC Group exclusivity until 31 March 2022 to enable the MSC Group, further to an additional due diligence phase and contractual negotiations, to submit a put option.
According to a report, the Bolloré Group’s decision to exercise this put option and the signature of the relevant agreements may only take place after the competent employee representative bodies have been informed and consulted and certain internal re-organisation operations have been carried out within the Bolloré Group.
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It was also gathered that the completion of the sale would require the approval of regulatory and competition authorities, as well as of certain counterparties of Bolloré Africa Logistics.
The Group however promised to report the outcome of these exclusive negotiations in due course.
Bolloré Africa Logistics is a subsidiary of French transportation conglomerate known as Bolloré SE, which is one of the biggest transport and logistics operators in Africa. It has presence in 42 ports and operates in 16 container terminal concessions, seven roll-on/roll-off (RoRo) terminals, two wood terminals and a river terminal, plus a conventional stevedoring activity. With regard to shipping activities, the group has a network of 85 maritime agencies.
Meanwhile, the Bolloré Group has promised to remain strongly involved in Africa, with Canal+, the leading pay-TV operator in French-speaking Africa and a major shareholder of MultiChoice, the leading pay-TV operator in English-speaking Africa.
The group also said it will continue to develop its activities in numerous sectors such as communication, entertainment, telecoms, and publishing.
