MSC Group confirmed that its wholly owned subsidiary SAS Shipping Agencies Services has completed the acquisition of Bolloré Africa Logistics.
The Swiss/Italian company said the transaction was approved by all applicable regulatory authorities.
MSC’s acquisition of Bolloré Africa Logistics SAS and its affiliates ‘Bolloré Africa Logistics Group’ highlights the long-term commitment of MSC to invest in African supply chains and infrastructure, supporting the needs of clients of both businesses, according to the company’s statement.
MSC will operate Bolloré Africa Logistics Group as an autonomous entity with its portfolio of diversified partners, under a new brand to be unveiled in 2023, while Philippe Labonne will continue his role at the helm of the business as president of Bolloré Africa Logistics.
MSC intends to continue enhancing the continent’s connectivity with the rest of the world and enable trade within Africa amid the implementation of continental free trade.
“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 the shipping company 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.”
