Tuesday, April 5, 2022

Giant Container Line Snaps Up Yet Another Major Logistics Player

MSC Continues to Expand Cargo Related Services
Shipping News Feature

SWITZERLAND – FRANCE – AFRICA – the negotiations which began in December between the Mediterranean Shipping Company (MSC) and the Bolloré Group have resulted in an agreement for MSC to acquire the French outfit's African logistics interests.

Whilst the Bolloré Group itself celebrates its bicentenary this year, and has interests ranging across the media, electric vehicles, energy and numerous other industry sectors, Bolloré Africa Logistics (BAL) alone had a valuation in 2019 of €8 billion, half of the group’s total value at that time.

Now the deal centres on the 100% acquisition of BAL 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 €5.7 billion. MSC says it has picked up all of 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.

Bolloré will maintain African links through its media interests, particularly Canal+. For MSC this is yet another example of one of the major shipping lines (MSC is currently rated the largest container shipping group in the world) moving inexorably into an expanded logistics holding.

Globally Bolloré Transport and Logistics has 34,000 employees spread across 109 countries on five continents working for four separate businesses. The sale remains subject to regulatory and competition approvals and the agreement of certain of Bolloré Africa Logistics’ counterparties and is expected to be completed by the end of the first quarter of 2023.

A Bolloré bicentenary journal is downloadable HERE and a video of the worldwide operations of Bolloré Logistics is viewable HERE.