MSC signs €5.7 billion deal to buy Bolloré Africa Logistics
Bolloré Group had received an offer from MSC to acquire 100% of Bolloré Africa Logistics in Dec 2021
Photo by Paul Teysen on Unsplash
MSC Group has confirmed that it has entered into a share purchase agreement with Bolloré SE relating to the acquisition of 100 percent of Bolloré Africa Logistics (including all of Bolloré Group's shipping, logistics and terminals operations in Africa as well as its terminal operations in India, Haiti and in Timor-Leste) for a purchase price based on an enterprise value, net of minority interests, of €5.7 billion ($6.3 billion).
"The signing of this agreement follows a thorough and positive consultation process with representatives of employees of the Bolloré Group," according to an official statement from MSC.
"The Bolloré Group will remain strongly involved in Africa, notably through Canal+, and will also continue to develop on this continent its activities in numerous sectors such as communications, entertainment, telecommunications and publishing," a statement from the group said.
The Bolloré Group had received an offer from the MSC Group to acquire 100% of Bolloré Africa Logistics in December 2021 for €5.7 billion ($6.3 billion).
"The Bolloré Group has granted the MSC Group an exclusivity until March 31, 2022, to enable the MSC Group, further to an additional due diligence phase and contractual negotiations, to submit a put option," Bollore had said on December 21, 2021.