MSC has made an offer to the Bolloré Group to acquire 100% of Bolloré Africa Logistics, comprising all of the Bolloré Group’s transport and logistics activities in Africa, for €5.7 billion (US$6.4 billion).
The Bolloré Group has granted the MSC Group an exclusivity until 31 March 2022 to enable the MSC Group, further to an additional due diligence phase and contractual negotiations, to submit a put option, according to a statement.
"The Bolloré Group’s decision to exercise this put option and the signature of the relevant agreements may only take place after the competent employee representative bodies have been informed and consulted and certain internal reorganisation operations have been carried out within the Bolloré Group," said the French transportation company.
Completion of the sale would require the approval of regulatory and competition authorities, as well as of certain counterparties of Bolloré Africa Logistics.
The Bolloré Group said it will report on the outcome of these exclusive negotiations in due course.
