CMA CGM makes bid for Bollore Group’s logistics activities
18 / 04 / 2023
Photo: Number1411/ Shutterstock
The CMA CGM Group has entered into exclusive negotiations to acquire Bolloré Logistics’ transportation and logistics activities.
If a deal is reached, the acquisition would further strengthen the shipping giant’s logistics activities.
Reuters suggests CMA CGM’s offer has a value of around $5.5bn.
CMA CGM Group said: “The negotiations are in line with the Group’s long-term strategy, based on the two pillars of shipping and logistics. The Group’s strategy is to offer end-to-end solutions in support of its customer’s supply chain needs.”
The negotiations do not guarantee an acquisition will take place, noted the Group.
Traditionally operating in shipping, CMA CGM has recently been diversifying its operations.
Its biggest acquisition in the logistics sphere came in 2018 and 2019 when over a period of several months it acquired a majority shareholding in CEVA Logistics.
More recently it acquired automotive logistics firm Gefco.
The Group has been investing in the development of its CMA CGM Air Cargo business since its launch last year.
This month, the carrier undertook the maiden flight for a new air cargo route between Paris, France and Guangzhou, China.
CMA CGM Air Cargo owns a fleet of six freighters – two Boeing 777Fs and four Airbus A330-200s. However, correct as of December, four of its aircraft fly for other carriers.
Publicly traded, the Bolloré Group works across three lines of business: transportation and logistics, communications, electricity storage and systems.
Bolloré Logistics has a presence on five continents and in 111 countries.
The global offering of Bolloré Logistics is built around comprehensive and integrated expertise covering five services areas: multimodal transportation, customs and statutory compliance, logistics, global supply chain, industrial projects.
Bolloré Logistics completed its 100% acquisition of Lynair Logistics last August to expand its footprint in Australia.
Earlier this month, Bolloré Africa Logistics was rebranded as Africa Global Logistics (AGL) following its acquisition by container shipping giant MSC at the end of 2022.