MSC’s acquisition of Bolloré Africa Logistics is complete
21 / 12 / 2022
MSC Group’s subsidiary SAS Shipping Agencies Services has completed the acquisition of Bolloré Africa Logistics.
The sale, agreed in May, comprises all of the Bolloré Group transport and logistics activities in Africa, on the basis of a €5.7bn enterprise value, net of minority interests.
The sale price of the shares is €5.1bn. €600m of shareholder loans were also repaid.
MSC and Bolloré entered discussions over the sale in December 2021.
MSC said it will operate Bolloré Africa Logistics as an autonomous entity with its portfolio of diversified partners, under a new brand to be unveiled in 2023.
Philippe Labonne will continue his longstanding role at the helm of the business as president of Bolloré Africa Logistics.
Diego Aponte, president of container shipping giant MSC Group, said: “We are delighted to welcome more than 21,000 new colleagues to the MSC family through our acquisition of Bolloré Africa Logistics.”
He added: “The deal will strengthen MSC’s longstanding ties with Africa and will reinforce our commitment to the continent’s economic growth, including investment in the ships, shipyards, container terminals, logistic solutions, storage facilities, 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.”
“The Bolloré Group will remain strongly involved in Africa, notably through Canal+, and will also continue to develop on this continent its activities in many fields such as communications, entertainment, telecommunications and publishing,” said Bolloré.
Bolloré Africa Logistics 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. Specifically 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 transaction was approved by all applicable regulatory authorities.