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Leading Swiss-Italian container-shipping company, Mediterranean Shipping Company (MSC) Group, has offered €5.7 billion ($6.4 billion) to acquire Bollore Africa Logistics, the African subsidiary of Bollore Group, a transportation conglomerate controlled by French billionaire Vincent Bollore.
A statement issued by the Bollore-owned conglomerate revealed that the businessman and the group’s other owners are on course to unlock a total enterprise value of €5.7 billion ($6.4 billion) from the offer that it received from MSC for its transport and logistics activities in Africa.
The offer, which is subject to the approval of regulatory and competition authorities, as well as certain counterparts of Bollore Africa Logistics, has been received by the French conglomerate.
In an effort to fast-track the deal, Bollore Group granted MSC exclusivity until March 31, 2022, which will enable the Swiss-Italian container-shipping company to submit a put-option in line with the contractual negotiations.
The conglomerate added that the put-option will be exercised and the signature of the relevant agreements will take place after the competent employee representative bodies have been informed and consulted, and certain internal reorganization operations have been carried out within Bollore Group.
Upon the conclusion of the deal, the conglomerate will continue to maintain active operations in Africa through Canal+, the leading pay-TV operator in French-speaking Africa and a major shareholder in MultiChoice, the leading pay-TV operator in Africa.
As a going concern with interests in Africa, Bollore Group revealed that it will continue to develop its activities in myriad sectors such as communications, entertainment, telecoms and publishing.
Bollore, the former chairman of Bollore Group, who derives the majority of his net worth from his interests in the conglomerate, has seen his wealth rise by a whopping $1.43 billion so far this year.
With his year-to-date gains in his net worth, Bollore’s wealth is valued at $6.63 billion, making him the 416th wealthiest man in the world.
