MSC completes acquisition of Bolloré Africa Logistics
Geneva-based MSC Group, the world’s largest container line and a major player in the ports (TIL) and logistics (Medlog) sectors, has finalized the acquisition of Bolloré Africa Logistics (BAL).
In a statement issued on 21 December, MSC said that its wholly owned subsidiary SAS Shipping Agencies Services has completed the deal. The transaction was approved by all applicable regulatory authorities.
MSC’s acquisition of BAL and its affiliates highlights the carrier’s long -term commitment to invest in Africa.
The Swiss-Italian said that it intends to operate Bolloré Africa Logistics as an autonomous entity within its portfolio. The company will however be rebranded under a new name. BAL CEO Philippe Labonne will continue his role at the helm of the company as President.
MSC Group President Diego Aponte commented: ‘We are delighted to welcome more than 21,000 new colleagues to the MSC family through our acquisition of Bolloré Africa Logistics. I wish to thank the
Bolloré family, and Cyrille in particular, for having conducted the transaction in a smooth and efficient way and I congratulate them for having created such a well-established business’.
The first strategic effects of the takeover have already become visible since MSC will turn the BAL-operated container port of Pointe Noire, Congo, into a new hub for Central Africa. The purchase price was based on an enterprise value, net of minority interests, of EUR 5.7 bn.