Swiss-based MSC Mediterranean Shipping Company, the world’s largest container shipping company, has completed its acquisition of the African logistic business of Paris-based Bolloré Group following regulatory approval.
The acquisition, valued at $6.4 billion, was made through MSC’s wholly-owned subsidiary SAS Shipping Agencies Services. The agreement follows exclusive negotiations between the two parties that were first initiated in December 2021.
“MSC’s acquisition of Bolloré Africa Logistics SAS and its affiliates highlights the long-term commitment of MSC to invest in African supply chains and infrastructure, supporting the needs of clients of both businesses,” MSC said in a statement.
Bolloré Africa Logistics Group, with its 21,000 employees, will be operated as an autonomous entity under a new brand that MSC says will be revealed in 2023. Philippe Labonne will continue his longstanding role as President.
MSC says it intends to utilize MSC Group’s financial strength and operational expertise to meet all of Bolloré Africa Logistics commitments to governments, particularly regarding port concessions, and continue enhancing the African continent’s connectivity with the rest of the world and enable trade within Africa amid the implementation of the continental free trade (AfCFTA).
“The deal will strengthen MSC’s longstanding ties with Africa and will reinforce our commitment to the continent’s economic growth, including investment in the ships, shipyards, container terminals, logistic solutions, storage facilities, road and rail networks that will support and enhance trade across the African continent and with the rest of the world,” says MSC Group President Diego Aponte. “Our strategy remains rooted in our values and in our long-term vision that protects over 150,000 employees in 155 countries worldwide.”
“The acquisition of Bolloré Africa Logistics is a testament to MSC’s longstanding commitment to invest in Africa,” adds Søren Toft, CEO of MSC. “On a more practical level, it means that we will further develop and expand our container shipping and logistics services in Africa.”
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