Bollore said it had received what it described as “spontaneous offer” from CMA CGM for the transport and logistics business under Bollore Logistics valued at €5bn on a cash free/debt free enterprise basis. Following the offer the two parties entered into exclusive discussions.
“The negotiations are in line with the CMA CGM Group's long-term strategy, based on the two pillars of shipping and logistics. The Group’s strategy is to offer end-to-end solutions in support of its customer’s supply chain needs,” CMA CGM said.
“If a deal is reached, the acquisition would further strengthen the CMA CGM Group logistics activities.”
Bollore said that it would report on the outcome of discussions in due course, and: “The transaction will remain in any event subject to regulatory approvals and no decision to sell will be taken until the end of the information and consultation procedures of the competent employee representative bodies.”
Last year Bollore sold its largely Africa based logistics businesses under Bollore Africa Logistics to MSC for €5.7bn.
Bollore is moving away from logistics to focus on its other businesses in areas such as communications, entertainment, telecommunications and publishing.
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