Mediterranean Shipping Co (MSC) has made a $6.4bn bid to buy out Bolloré Group’s African logistics business, a notable departure for the Swiss container line that has tended to grow organically in its 51-year existence.
Cash rich MSC has tabled a bid to take over Bolloré’s port, rail and logistics entities in Africa as well as port concessions in India, East Timor and Haiti. Bolloré Logistics in the rest of the world and Bolloré Energy are not part of the proposed deal.
Bolloré said it is studying the offer, with an end-March date put as the time for the deal to be concluded.
French billionaire Vincent Bollore had earlier announced he intends to retire early next year.
Last month MSC’s 2M partner Maersk formed a joint venture with South Africa’s Grindrod with many logistics players looking at the African continent as a source of strong growth this decade.