CMA CGM Completes Acquisition of Bolloré Logistics for $5.25bn

Taking a major step in its logistics development strategy, French liner CMA CGM has completed the acquisition of family-run conglomerate Bolloré Logistics for €4.85bn ($5.25bn).

While Bolloré Group’s sale to CMA CGM is complete, the transfer of Bolloré Logistics Sweden AB to the French company remains subject to obtaining foreign investment clearance in Sweden.

Initially, the acquisition of Bolloré Logistics was agreed upon by the two entities in May 2023 for an initial price of €5 billion. The purchase did have some hurdles before the completion of the sale. The deal was approved by EU commission and Polynesian authorities only after Bolloré divested assets and CMA CGM canceled one of its Panama Direct Line services.
 
According to Bolloré, the purchase price of €4.85bn was formed based on the estimated debt and cash on the completion date.

Bolloré, a major transport and logistics company, achieved a turnover of €7.1 billion in 2022. It transported 710,000 TEU of ocean freight and 390,000 tons of air freight, with a storage capacity of 900,000 sq m.

“The new entity, made up of CEVA and Bolloré Logistics, is the world’s number 5 in its sector. 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,” said Rodolphe Saadé, CEO and chairman of CMA CGM.

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