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5 billion euro deal

CMA,Bolloré Logistics deal going ahead

by Port News Editorial Staff

CMA CGM has secured a deal to acquire Bolloré Logistics, the transport and logistics subsidiary of the French group of the same name.

The shipping company itself announced this in a press release in which it specified that Bolloré had accepted the offer in the form of a put option.

The transaction, worth 5 billion euros, will have to be approved by employee representatives and antitrust authorities. Thanks to this acquisition, the shipowning group’s revenues from its logistics activities, currently operated mainly by its subsidiary CEVA Logistics, would rise, based on the results achieved in 2022, to around $24 billion compared to  the $ 16.1 billion they made last year.

Ocean and air freight volumes handled by the group’s logistics division are also increasing. They are expected to rise to more than two million TEU containers of maritime cargo and 0.8 million tonnes of air cargo.

Translation by Giles Foster

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