French logistics group, Bollore has agreed to sell its African operations to the Mediterranean Shipping Company, MSC, container shipping company for $6.3 billion.
Bollore said that the deal, which is awaiting regulatory approval, is expected to be completed at the end of the first quarter of 2023.
The multibillion-dollar deal will see MSC Group take 100 per cent control of Bolloré Africa
Logistics, its shipping, logistics, and terminal operations on the continent.
As part of the deal, MSC will also take over the company’s terminal operations in Haiti, India, and East Timor.
Bollore Africa is one of the largest transport and logistics firms on the continent. The
information available on its website says that it has operations in 47 African countries with
around 21,000 employees.
The firm also has 74 agencies in 32 African countries. With a network of 250 subsidiaries, the company has activities in 42 ports, runs 16 container terminal concessions and operates three railways concessions.
MSC, the US$6.3 billion acquisition, followed through a thorough consultation process.
“The signing of this agreement follows a thorough and positive consultation process with
representatives of employees of the Bolloré Group,” said the Geneva-based shipping company in its announcement.
The completion of the acquisition remains subject to the receipt of approvals, including from the relevant competition authorities.
MSC noted that ” the acquisition of Bolloré Africa Logistics reaffirms MSC Group’s commitment to invest in Africa and strengthen supply chains across the continent.”
