MSC moves ahead with $6.3bn Bolloré Africa Logistics acquisition

Mediterranean Shipping Co (MSC) has finalised its acquisition of a big name in African transport, confirming yesterday that it has entered into a share purchase agreement with Bolloré relating to the acquisition of 100% of Bolloré Africa Logistics including all of Bolloré Group’s shipping, logistics and terminals operations in Africa, as well as its terminal operations in India, Haiti and in Timor-Leste for a purchase price based on an enterprise value, net of minority interests, of EUR5.7bn ($6.3bn).

Completion remains subject to the receipt of approvals, including from the relevant competition authorities.

“The acquisition of Bolloré Africa Logistics reaffirms MSC Group’s longstanding commitment to invest in Africa and to strengthen supply chains across the continent, as well as connecting it to the rest of the world,” MSC stated in a release.

Other container majors such as Maersk and Hapag-Lloyd have been beefing up their African operations of late with significant acquisitions with the continent widely tipped to be a strong source of growth in the coming decade.