Share Purchase Agreement Worth 5.7 Billion Euros
Mediterranean Shipping Co has struck a deal with Bolloré to acquire 100 percent of Bolloré Africa Logistics for 5.7 billion euros.
The Geneva-headquartered firm said it had entered into a share purchase agreement with Bolloré relating to the acquisition of the regional unit, including all of the group’s shipping, logistics and terminal operations in Africa, as well as terminal operations in India, Haiti and in Timor-Leste.
MSC and Bolloré had been engaged in a consultation process following MSC’s announcement in December 2021 of its intention to buy the unit. The deal is subject to the approval of competition authorities.
“The acquisition of Bolloré Africa Logistics reaffirms MSC Group’s longstanding commitment to invest in Africa and to strengthen supply chains across the continent, as well as connecting it to the rest of the world,” MSC said in a filing.
In a separate statement, Bolloré said it would remain “strongly involved” in Africa through Canal+, and would continue operating in the region in sectors such as communications, entertainment, telecommunications and publishing.
MSC and Bolloré Transport & Logistics will be exhibiting at Breakbulk Europe 2022, taking place in Rotterdam on 17-19 May. To enquire about exhibiting, click on the link below.
