MSC offers €5.7B to buy Bolloré Africa Logistics
Swiss container shipping major Mediterranean Shipping Company (MSC) has submitted an offer to acquire 100% of Bolloré Africa Logistics, comprising all of the Bolloré Group’s transport and logistics activities in Africa.
Bolloré Africa Logistics, a subsidiary of French transportation conglomerate Bolloré SE, is one of the biggest transport and logistics operators in Africa.
“The Bolloré Group has granted the MSC Group an exclusivity until 31 March 2022 to enable the MSC Group, further to an additional due diligence phase and contractual negotiations, to submit a put option,” the group said.
“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.”
Completion of the transaction would require the approval of regulatory and competition authorities, as well as of certain counterparties of Bolloré Africa Logistics.
Bolloré Africa Logistics is present in 42 ports and operates in 16 container terminal concessions, 7 roll-on/roll-off (RoRo) terminals, 2 wood terminals and a river terminal, plus a conventional stevedoring activity. With regard to shipping activities, the group has a network of 85 maritime agencies.
The container shipping sector has been faced with an unprecedented congestion crunch due to COVID-19. Container carriers around the world have been seeking ways to ease backlogs. One of these ways is the integration with logistics services providers.
MSC’s move comes after its two biggest counterparts, Maersk and CMA CGM, secured important deals in the logistics sector.