PARIS (Agefi-Dow Jones) – The conglomerate Bolloré Group announced on Monday that it had received an offer from the maritime carrier MSC for the acquisition of its subsidiary Bolloré Africa Logistics, for an amount of 5.7 billion euros including debt.
This offer covers all of the group’s transport and logistics activities in Africa, Bolloré said in a press release.
Bolloré added that it had granted an exclusivity period to MSC until March 31, 2022 for the delivery of a promise to purchase. During this period, MSC may conduct a follow-up audit and the two groups conduct contractual discussions.
“The decision of the Bolloré Group to exercise this promise and the signing of the related agreements could only take place after the information and consultation procedures of the competent employee representative bodies and certain internal reorganization operations within the Group. Bolloré, “the group said in a statement.
Completion of the sale would be subject to obtaining regulatory authorizations and the relevant competition authorities “as well as the approval of some of Bolloré Africa Logistics’ counterparties”, Bolloré also warned.
Present in 42 ports, Bolloré Africa Logistics is a key player in the transport of goods in Africa. The company operates under concessions 16 container terminals, two timber terminals and one river terminal. It also operates three rail concessions in Africa and has a network of 85 shipping agencies. In 2020, it achieved a turnover of 2.1 billion euros, according to the group’s annual report.
The sale of this historic activity would come at a pivotal moment for Vincent Bolloré. The billionaire has extended his hold over the communication and media sector in recent years, notably through his acquisitions of stakes in the Vivendi and Lagardère groups, which he intends to merge.
In the event of the sale of Bolloré Africa Logistics, the group stressed that it would retain a significant presence in Africa “in particular through Canal +, the leading pay-TV operator in French-speaking Africa and a major shareholder of MultiChoice, the leader in pay-TV in Africa. English-speaker”.
-François Schott, Agefi-Dow Jones; 01 41 27 47 92; [email protected] ed: LBO
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December 20, 2021 13:10 ET (18:10 GMT)