Bolloré immediately posted the largest increase in SRD on Tuesday on the Paris Bourse, in reaction to the announcement, Monday after the close of markets, of the upcoming sale of its African activities, grouped within the subsidiary Bolloré Africa Logistics. The title quickly gained nearly 12%, to a high of 4.84 euros. The action hit a historic high of 5.42 euros on September 27.
The operation covers all of the group’s transport and logistics activities in Africa, namely 42 ports, as well as warehouses and three railway lines. They found a buyer in the person of the maritime carrier MSC, which has exclusivity until March 31, 2022.
It is the price, above all, that is appreciated by the operators. The transaction will be carried out at a price of 5.7 billion euros for 100% of the entity’s shares. This, to be compared to a turnover of around 2.1 billion euros, included, for the time being, in the 5.8 billion of the Group’s Transport & Logistics division, which also includes the activity freight forwarder (Freight forwarding) by Bolloré.
Bolloré is turning a page in its history
In mid-October, when the first information, relayed by the daily The world, reported such intentions on the part of the French conglomerate, it is a price of 2 to 3 billion euros which was advanced. MSC was not, however, cited at the time as a potential candidate for this acquisition. The French CMA CGM, the Danish Maersk, the port operator Dubai Ports World and the Chinese Cosco Shipping, manager of the Greek port of Piraeus, were mentioned.
” If this sale goes to an end, Bolloré will have turned an important page in its history and it will remain to be seen what will be the next step envisaged by Vincent Bolloré, who must theoretically cede the reins of his group to his children in early 2022, analysis this morning the firm Invest Securities. The question of simplifying the group’s structures will not fail to arise. Remember that the Bolloré family owns 64.3% of Bolloré (capitalization of 12.7 billion euros), which itself holds 28.9% of Vivendi (capitalization of 11.8 billion). ”