In the latest episode of ocean carriers acquiring logistics businesses, MSC has confirmed in a statement that it has entered into a share purchase agreement with Bolloré Group for the acquisition of 100% of Bolloré Africa Logistics.
For MSC, the recently crowned number one container shipping line in the world, this deal means they will own 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. The purchase price is reported to have been 5.7 billion euros net of minority interests and based on an enterprise value.
“The acquisition – still pending regulatory approvals – is a testament to MSC’s longstanding commitment to invest in Africa. I take the opportunity to in due course extend a warm welcome to employees of Bolloré Africa Logistics to the MSC family!” said Soren Toft, the CEO of MSC.
The Group has opted for a presence in Africa for many years and is making it the major part of these investments.
Bolloré Africa Logistics, is the biggest transport and logistics operator in Africa, with a network of over 250 subsidiaries and almost 21,000 employees in 49 countries, including 47 in Africa.
On its website, Bolloré Africa Logistics notes that they are “present in 42 ports and operates in 16 container terminal concessions (Republic of Côte d’Ivoire, Ghana, Nigeria, Cameroon, Gabon, Congo, Togo, Guinea-Conakry, etc.), 7 ro-ro (roll-on/roll-off) terminals, 2 wood terminals and a river terminal, plus a conventional stevedoring activity” adding further muscle to the already substantial presence of MSC in Africa.
“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.” Bolloré said in a statement.