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Wednesday, 21/12/2022, 07:38 (GMT +7)
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MSC Group completes acquisition of Bolloré Africa Logistics
MSC Group announces that its wholly owned subsidiary SAS Shipping Agencies Services has completed its acquisition of Bolloré Africa Logistics and the transaction has been approved by all applicable regulatory authorities.
Bolloré Africa Logistics' container (Photo: Afrimag)
According to the group statement, MSC's acquisition of Bolloré Africa Logistics SAS and its affiliates 'Bolloré Africa Logistics Group' confirms MSC's long-term commitment to investing in its supply chain and infrastructure in Africa, supporting the needs of both businesses' customers.
MSC will run Bolloré Africa Logistics Group as an independent entity with a diverse portfolio of partners, under a new brand to be launched in 2023, while Philippe Labonne will continue to lead the industry long-term company as president of Bolloré Africa Logistics.
The MSC intends to further strengthen the continent's connectivity with the rest of the world and facilitate trade in Africa in the context of continental free trade (AfCFTA).
“Backed by MSC Group’s financial strength and operational expertise, Bolloré Africa Logistics will be able to meet all its commitments to governments, particularly regarding port concessions." said MSC in its announcement.
MSC Group President, Diego Aponte said: "We are delighted to welcome more than 21,000 new colleagues to the MSC family through our acquisition of Bolloré Africa Logistics. I wish to thank the Bolloré family, and Cyrille in particular, for having conducted the transaction in a smooth and efficient way and I congratulate them for having created such a well-established business."
"The deal will strengthen MSC’s longstanding ties with Africa and will reinforce our commitment to the continent’s economic growth, including investment in the ships, shipyards, container terminals, logistic solutions, storage facilities, road and rail networks that will support and enhance trade across the African continent and with the rest of the world. Our strategy remains rooted in our values and in our long-term vision that protects over 150,000 employees in 155 countries worldwide.”
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Source: Phaata.com (According to MSC)
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