CMA CGM in talks with Balguerie over the sale of part of Bolloré Logistics
19 / 04 / 2024
Photo: Jaromir Chalabala/ Shutterstock
The CMA CGM Group has initiated the sale of 100% of Bolloré Logistics’ activities in Guadeloupe, Martinique, Saint-Martin, French Guiana, and Polynesia, with Balguerie Group making an offer.
This follows the completion of the Group’s takeover of Bolloré Logistics from the Bolloré Group in February.
The sale is in line with the commitments made by CMA CGM to the European Commission and the Polynesian Competition Authority in the context of the acquisition of Bolloré Logistics.
Accordingly, the CMA CGM Group has received a put option from the Balguerie Group and has signed an exclusivity agreement with Balguerie for the sale of these activities.
“The confirmation of this put option will occur following the information and consultation procedures of the competent work councils,” said CMA CGM.
“Additionally, the effective acquisition of these activities by the Balguerie Group is subject to obtaining applicable regulatory approvals, as well as approval from both competition authorities under the commitments made by CMA CGM.”
Bolloré Logistics’ activities in La Reunion and Nouvelle Calédonie are not affected by the sale and will therefore remain within the scope of the CMA CGM Group.
CMA CGM’s €4.850bn deal to acquire Bolloré Logistics is its largest acquisition since its creation in 1978 and constitutes a major step in the CMA CGM Group’s logistics development strategy, complementing its historical maritime transport line of business.
European Commission approves CMA CGM takeover of Bolloré Logistics
