|
|
Logistics service provider Bolloré Logistics may soon get taken over by the French shipping giant CMA CGM, as anticipated by the media outlet ‘The Loadstar’. As per latest reports, CMA has entered into exclusive negotiations to acquire the transportation and logistics activities held through Bolloré Logistics.
CMA CGM has long maintained the strategy of not only providing shipping services but to offer end-to-end logistics services to its customers, giving strong support to their supply chains.
“If a deal is reached, the acquisition would further strengthen the CMA CGM Group logistics activities. The negotiations in no way guarantee an acquisition,” the company said in a statement.
Bolloré is clearly the target, but if CMA fails to agree a deal, Geodis could perhaps be Plan B. CMA CGM already owns Ceva Logistics and acquired Gefco from Russian Railways following the invasion of Ukraine.
In a separate release, the Bolloré group confirmed “having received from the CMA CGM group a spontaneous purchase offer for its freight forwarding and logistics activities grouped together in Bolloré Logistics, on the basis of an enterprise value of 5 billion euros“. It is now a question of realizinga confirmatory audit phase and the holding of contractual negotiations so that CMA CGM can submit, if necessary, a promise to purchase corresponding to this offer around May 8, 2023“, according to the same source.
Bolloré also noted that the completion of the operation would remain “subject to obtaining regulatory authorizations” and that’”no transfer decision will be taken before the end of the information and consultation procedures with the competent employee representative bodies“.
Bolloré Logistics’ board of directors will take a decision on the negotiations during an upcoming meeting.
