Bolloré climbs after MSC’s offer for its logistics activity in Africa





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PARIS (Reuters) – The Bolloré group gains nearly 10% on the stock market on Tuesday after receiving an offer from the shipowner MSC for its transport and logistics activities in Africa on the basis of an enterprise value of 5.7 Billions of Euro’s.

The group of businessman Vincent Bolloré said Monday that it had granted exclusivity to the Swiss group until March 31 with a view to a possible promise to purchase.

On the stock market, the Bolloré share gained 8.91% to 4.72 euros, the largest increase in the SBF 120 index, which advanced 0.59% at 10:45 am. For now, this is its biggest daily gain since mid-February.

Although the interest of MSC is not in itself a surprise because already mentioned in the press, the amount of the offer, higher than expected, is “very good news”, according to Oddo analysts.

If the transaction goes through, the group could significantly reduce its debt and post a net cash position of around three billion euros at the end of 2022, estimates Oddo.

On the occasion of the publication of its half-year results on July 30, Bolloré indicated that the amount of its net debt stood at 6.85 billion euros.

“Such an operation would confirm 2022 as the year of reorganization of the Bolloré group with a significant rotation of the asset portfolio (…) The next step could be to increase its stake in Vivendi via a share buyback and a public offer” , add analysts, who reiterate their recommendation to “outperform”.

(Laetitia Volga, edited by Blandine Hénault)









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