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Monday, 04/03/2024, 12:13 (GMT +7)
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CMA CGM completes acquisition of Bolloré Logistics
French shipping giant - CMA CGM Group has completed the acquisition of Bolloré Logistics from its compatriot shipping group Bolloré Group..jpg)
CMA-CGM-Bollore-Logistics (Photo: Bollore)
The two groups announced the deal value of 4.85 billion euros (equivalent to 5.25 billion USD), based on estimates of cash and debt on the date of completion of the deal.
In 2022, Bolloré Logistics will achieve a revenue of 7.1 billion euros (equivalent to 7.7 billion USD), transporting 710,000 TEUs of goods by sea and 390,000 tons of goods by air, along with the ability to store up to to 900,000 m².
This transaction marks the largest acquisition in CMA CGM's history since its establishment in 1978, and is an important step forward in the Group's logistics development strategy.
"The new entity, made up of CEVA and Bolloré Logistics, is the world's number 5 in its sector" - CEO and Chairman of CMA CGM Group Rodolphe Saadé emphasized. "We will now be able to offer our customers a complete range of services and extend our expertise to new businesses. On behalf of the CMA CGM Group and my family, I would like to welcome the 14,000 employees who are joining us today."
Mr. Cyrille Bolloré - CEO and President of Bolloré Group said: "This is the beginning of a new chapter for Bolloré Logistics’ employees. I am very pleased that they are joining the CMA CGM Group and the Saadé family. They will bring unique expertise and know-how, which have long made the pride of the Group and which will be the pride of CMA CGM tomorrow. It is also a great opportunity for our customers around the world and I would like to take this opportunity to thank them for their trust and loyalty."
CEO and President of CMA CGM Group Rodolphe Saadé and CEO and President of Bolloré Group Cyrille Bolloré (Ảnh: CMA CGM)
According to the announcement, the transfer of Bolloré Logistics Sweden AB to CMA CGM Group is still dependent on foreign investment approval in Sweden.
Source: Phaata.com (According to Container News)
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