MSC Group has reached agreement to acquire Bolloré Africa Logistics for EUR5.7bn ($6.3bn).
Following over three months of exclusive discussions MSC said it had agreed with Bolloré SE to buy 100% of Bolloré Africa Logistics.
The acquisition sees MSC joining its competitors Maersk and CMA CGM making major investments in the logistics and landside sector, as container lines that have profited hugely from supply chain disruption reinvest their earnings.
The deal will include all of Bolloré Group’s shipping, logistics and terminals operations in Africa, as well as its terminal operations in India, Haiti and in 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,” MSC said.
Bolloré Africa Logistics claims to be the largest transport logistics operator in Africa with 250 subsidiaries and almost 21,000 employees in 49 countries, including 47 in the continent. It is present in 42 ports in Africa operating 16 container terminal concessions, as well as three rail concessions: Sitarail, Camrail and Benirai.
MSC said the agreement follows a thorough and positive consultation process with representatives of employees of the Bolloré Group and it remains subject to approvals from competition authorities.
The deal sees Bolloré Group exit shipping and logistics to focus on its other businesses including communications, entertainment, telecommunications and publishing.
MSC has also expressed interest in buying acquiring a majority stake in Alitalia successor ITA Airways in a partnership with Lufthansa. The Geneva-headquartered company is also acquiring a majority stake in Brazilian domestic carrier Log-In Logistica.
Source: Seatrade Maritime News