File Photo. Image Credit: Vytautas Kielaitis / Shutterstock.com
The world’s largest shipping line, Mediterranean Shipping Company (MSC), has reached an agreement to acquire 100% the African logistic business of Paris-based Bolloré Group for 5.7 billion euros (US $6.4 billion).
The agreement follows exclusive negotiations between the two parties inititiated in December 2021.
MSC’s acquisition of Bolloré Africa Logistics comprises all of Bolloré Group’s transport and logistics activities in Africa, including shipping, logistics and terminals operations, as well as terminal operations in India, Haiti and in Timor-Leste.
Bolloré Africa Logistics is the biggest transport and logistics operator in Africa with nearly 21,000 employees in 49 countries, including 47 in Africa, according to the company’s website.
“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 statement.
Closing of the deal is subject to regulatory approval and is expected by the end of the first quarter of 2023.
Join the gCaptain Club for curated content, insider opinions, and vibrant community discussions.
Join the 109,747 members that receive our newsletter.
Have a news tip? Let us know.
U.S. container ports recorded their fourteenth consecutive month of growth in November, with inbound volumes surging 13.1% year-over-year across the nation’s ten largest ports, according to the latest report from...
President Biden has taken a significant step toward ocean conservation by transmitting the High Seas Treaty to the Senate for ratification, marking a potential watershed moment for marine protection. The...
Allseas has secured a groundbreaking contract for Australia’s largest offshore decommissioning project, which will see the removal of up to 12 retired platforms from the Gippsland Basin. The contract, awarded...
Maritime and offshore news trusted by our 109,747 members delivered daily straight to your inbox.
Essential news coupled with the finest maritime content sourced from across the globe.
Sign Up
Join The Club
