AFRICA – French logistics group Bolloré has agreed to sell its African operations to container shipping company Mediterranean Shipping Company (MSC) for US$6.3 billion.
Bolloré said in a statement that the deal, which is awaiting regulatory approval, is expected to be completed at the end of the first quarter of 2023.
As part of the deal, MSC will also take over the company’s terminal operations in Haiti, India, and East Timor.
Bollore Africa is one of the largest transport and logistics firms in Africa. The information available on its website says that it has operations in 47 African countries with around 21,000 employees. The firm also has 74 agencies in 32 African countries.
With a network of 250 subsidiaries, the company has activities in 42 ports, runs 16 container terminal concessions and operates three railways’ concessions.
It manages all administrative and Customs procedures for its customers before and after transportation, for import and export, as well as the movement of goods to their final destination.
MSC’s acquisition of Bolloré Group Africa’s investments will increase competition to maintain its position as a global shipping company. It was recognised as the world’s largest containership company by capacity, ahead of Maersk Company which has been holding top position for decades.
Data analysts and consultancy Alphaliner updated its ranking of the Top 100, putting MSC ahead of Maersk by 1,888 twenty-foot equivalent unit (TEUs), a small fraction of its nearly 4.3 million TEU total capacity.
MSC is present in 155 countries and facilitates international trade between the world’s major economies, and among emerging markets across all continents.
Founded in 1970 and headquartered in Geneva, Switzerland, since 1978, MSC is a privately-owned organisation driven by the Aponte family and does not announce each transaction leaving industry analysts to link the company to construction orders, charters, and secondhand tonnage.
A world leader in container shipping, MSC has evolved from a one vessel operation into a globally respected business with a fleet of 600 vessels and more than 100,000 staff.
MSC calls at 500 ports on 230+ trade routes, carrying some 23 million TEU annually, via a modern fleet, equipped with the latest green technologies.