Bollore Group has announced reaching a deal with MSC Group for the sale of its Africa Logistic subsidiary, APA can report on Tuesday.
This follows the exclusive negotiations announced on 20 December 2021 and the favourable opinions issued by each of the consulted employee representative bodies.
Rhe Bolloré Group in late March signed an agreement relating to the sale to the MSC Group of 100 percent of Bolloré Africa Logistics.
This will comprise all of the Bolloré Group’s transport and logistics activities in Africa, on the basis of an enterprise value, net of minority interests, of 5.7 billion euros according to a statement seen by APA.
According to the statement the sale will remain subject to regulatory and competition approvals and the agreement of some of Bolloré Africa Logistics’ counterparties.
It is expected to be completed by the end of the first quarter of 2023.
Despite selling off its Africa Logistics stake, the Bolloré Group said it will remain strongly involved in the continent, notably through Canal+, and will also continue its presence in Africa especially in sectors such as communications, entertainment, telecommunications and publishing.
WN/as/APA