Home Business Bollore signs Sh724.8 billion deal to sell Africa operations to MSC

Bollore signs Sh724.8 billion deal to sell Africa operations to MSC

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Bollore signs Sh724.8 billion deal to sell Africa operations to MSC


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Bollore Transport and Logistics management with journalists at the Port of Mombasa during the flagging off of a full freight Standard Gauge Railway (SGR) train to Nairobi Container Terminal at Embakasi on March 29, 2018. PHOTO | KEVIN ODIT | NMG

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Summary

  • Bollore on Thursday said in a statement that the deal, which is awaiting regulatory approval, is expected to be completed at the end of the first quarter of 2023.
  • If the deal gets regulatory approval, MSC Group will take 100 percent control of Bolloré Africa Logistics including all transport and logistics operations.

French logistics group Bollore has agreed to sell its African operations to container shipping company MSC for Sh724.8 billion ($ 6.3 billion), the firm announced in a statement Thursday.

Bollore on Thursday said in a statement that the deal, which is awaiting regulatory approval, is expected to be completed at the end of the first quarter of 2023.

If the deal gets regulatory approval, MSC Group will take 100 percent control of Bolloré Africa Logistics including all transport and logistics operations.

The multi-billion-dollar deal will include the acquisition of the firm’s shipping, logistics, and terminal operations on the continent.

As part of the deal, MSC will also take over the company’s terminal operations in Haiti, India, and East Timor.

Bollore Africa is one of the largest transport and logistics firms in Africa. The information available on its website says that it has operations in 47 African countries with around 21,000 employees.

The firm also has 74 agencies in 32 African countries.

With a network of 250 subsidiaries, the company has activities in 42 ports, runs 16 container terminal concessions and operates three railways concessions.

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$ 1 = Sh115

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