French transport and logistics firm Bolloré Group has received an offer for 100 percent of its African logistics unit from major container shipping line Mediterranean Shipping Company (MSC Group).
The deal, estimated at €5.7 billion or US$6.4 billion, includes all of the forwarder’s transport and logistics activities in Africa. Aside from ocean, air, road, and rail transport, warehousing and terminal operations, Bolloré Africa Logistics manages the entire administrative and customs procedures for its customers in 47 countries on the continent.
Bolloré management noted that the completion of the sale would require the approval of regulatory and competition authorities, as well as certain counterparties of the African logistics unit.
The group will continue to develop its activities in Africa in other sectors like communication, entertainment, telecoms and publishing, which include pay-TV operators Canal+ and MultiChoice.