Bolloré agrees €5.7bn deal to sell African logistics business
01 / 04 / 2022
The Bolloré Group has agreed to sell its African logistics business to container shipping giant MSC in a deal with an enterprise value of €5.7bn.
The two companies entered discussions over the sale in December and, following the favourable opinions issued by each of the employee representative bodies, the two companies signed the contract for the sale to the MSC Group of 100% of Bolloré Africa Logistics comprising the all transport and logistics activities of the Bolloré Group in Africa.
The completion of the deal, subject to regulatory approval and the agreement of some of Bolloré Africa Logistics’ counterparties, is expected to take place by the end of the first quarter of 2023.
Bolloré Africa Logistics claims to be the largest transport and logistics operator in Africa, where it has a network of 250 subsidiaries and almost 21,000 employees in 49 countries, including 47 in Africa.
Much of its business is centred around shipping; it is present in 42 ports and operates in 16 container terminal concessions, seven ferry terminals, two wood terminals and a river terminal, conventional stevedoring activity.
The Group has a network of 85 maritime agencies: 74 African agencies in 32 countries, 11 branches on the Iberian peninsula, and two branches in Asia-Pacific.
In logistics, the company has a presence in 47 countries and manages all administrative and customs procedures for its customers both before and after transportation, for import and export, and manages the carriage of goods to their final destination.
The Group also operates three rail concessions in Africa: Sitarail, Camrail and Benirail.