CMA CGM completes €4.85 billion acquisition of Bollore Logistics
Bolloré Logistics reported turnover of €7.1bn in 2022 & transported 710K TEUs ocean freight and 390K tonnes air freight
Rodolphe Saadé, CEO and Chairman, CMA CGM Group (left) and Cyrille Bolloré, CEO and Chairman, Bolloré Group. Photo Credit: CMA CGM
The Bolloré Group and the CMA CGM Group announced the completion of the sale of 100 percent of Bolloré Logistics to CMA CGM.
The transfer of Bolloré Logistics Sweden to the CMA CGM Group remains subject to the latter obtaining foreign investment clearance in Sweden, says an official release from CMA CGM.
"The purchase price is €4.85 billion on the basis of the estimated debt and cash on the completion date." This is CMA CGM’s largest acquisition since its creation in 1978, and constitutes a major step in the CMA CGM Group’s logistics development strategy, complementing its historical maritime transport line of business.
Rodolphe Saadé, CEO and Chairman, CMA CGM Group says: “I would like to thank the Bolloré Group for the trustful dialogue we have established over the last few months to successfully finalise this acquisition. Within the CMA CGM Group, we are proud to welcome a French flagship built on years of work and experience. The new entity, made up of CEVA and Bolloré Logistics, is the world's number five 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. Together, we will combine our talents and accelerate our development."
Cyrille Bolloré, CEO and Chairman, Bolloré Group adds: “This is the beginning of a new chapter for Bolloré Logistics’ employees. I am very pleased that they are joining the CMA CGM Group and the Saadé family. They will bring unique expertise and know-how, which have long made the pride of the Group and which will be the pride of CMA CGM tomorrow. It is also a great opportunity for our customers around the world and I would like to take this opportunity to thank them for their trust and loyalty."
As a leading transport and logistics company in France and one of the main players in the sector worldwide, Bolloré Logistics reported a turnover of €7.1 billion in 2022, transported 710,000 TEUs of ocean freight and 390,000 tonnes of air freight along with a storage capacity of 900,000 sq.mt.
