PARIS : French logistics group Bolloré BOLL.PA on Thursday said it signed an agreement with shipping company MSC about the sale of Bolloré Africa Logistics, valued at 5.7 billion euros ($6.31 billion).
Bolloré in a statement said the deal, which is yet to be approved by regulators, is expected to be completed at the end of the first quarter next year.
The two companies in December announced they had started negotiations on comprising all of the Bolloré Group’s transport and logistics activities in Africa, on the basis of an enterprise value, net of minority interests, of 5.7 billion euros.
The sale remains subject to regulatory and competition approvals and the agreement of certain of Bolloré Africa Logistics’ counterparties and is expected to be completed by the end of the first quarter of 2023.
The Bolloré Group will remain strongly involved in Africa, notably through Canal, and will also continue to develop on this continent its activities in numerous sectors such as communications, entertainment, telecommunications and publishing.