Bolloré Group, the transportation conglomerate controlled by French billionaire Vincent Bollore, announced on Wednesday that it has completed the sale of its Bollore Africa Logistics arm to Mediterranean Shipping Company (MSC) Group for €5.7 billion ($6.1 billion).
The deal includes the sale of Bollore Africa Logistics’ shipping, logistics, and terminal operations on the continent, as well as some of its terminal operations in India, Timor-Leste, and Haiti. MSC Group has now acquired a 100-percent stake in Bolloré Group’s African operations.
The sale of Bollore Africa Logistics, one of Africa’s largest transport and logistics firms, comes nearly a year after MSC made an offer of $6.1 billion for the subsidiary. Bollore Group granted MSC exclusivity until March 31 to submit a put option in line with the negotiations. The transaction was subject to regulatory and competition approvals, which have now been obtained.
With the completion of the sale, Bollore Group 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. The group also has interests in various sectors, including communications, entertainment, telecoms, and publishing.
Bollore, who derives the majority of his net worth from his interests in Bollore Group, has seen his wealth increase by $191 million so far this year. This puts his current net worth at $8.42 billion, making him the 228th wealthiest man in the world.
The completion of the sale is a significant development for MSC Group, which has now expanded its operations in Africa and other regions through the acquisition of Bollore Africa Logistics.
The company is a global leader in container shipping and offers a wide range of transportation and logistics services to businesses around the world. The acquisition of Bollore Africa Logistics is expected to further strengthen MSC Group’s position in the transportation and logistics industry.
Overall, the sale of Bollore Africa Logistics to MSC Group is a major financial transaction that will have significant implications for both companies and the transportation and logistics industry as a whole. The completion of the deal marks a new chapter for Bollore Group, which will continue to operate in various sectors while focusing on its core businesses in Africa.
