Bolloré in talks to sell Africa logistics business

The Bolloré Group is holding talks with container shipping giant MSC over the sale of its African logistics division.

The French company said that it had received an offer from MSC to acquire 100% of Bolloré Africa Logistics, comprising all of the Bolloré Group’s transport and logistics activities in Africa, on the basis of an enterprise value, net of minority interests, of €5.7bn.

Bolloré Group has granted MSC exclusivity until March 31 to enable the company, further to an additional due diligence phase and contractual negotiations, to submit a put option.

“The Bolloré Group’s decision to exercise this put option and the signature of the relevant agreements may only take place after the competent employee representative bodies have been informed and consulted and certain internal reorganisation operations have been carried out within the Bolloré Group,” the company said.

Completion of the sale would require the approval of regulatory and competition authorities, as well as of certain counterparties of Bolloré Africa Logistics.

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, plus a 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.