MSC Group announced that it has reached a deal for its acquisition of Bolloré Africa Logistics.

"MSC confirms that it has entered into a share purchase agreement with Bolloré SE relating to the acquisition of 100% of Bolloré Africa Logistics," the Swiss international shipping line said.

It noted that the planned acquisition will include all of Bolloré Group's shipping, logistics, and terminals operations in Africa, as well as its terminal operations in India, Haiti, and Timor-Leste.

The purchase price is 5.7 billion euros (US$6.31 billion) based on an enterprise value, net of minority interests, MSC said.

"The signing of this agreement follows a thorough and positive consultation process with representatives of employees of the Bolloré Group," it added.

Africa expansion

The shipping line noted that completion remains subject to the receipt of approvals, including from the relevant competition authorities.  

"The acquisition of Bolloré Africa Logistics reaffirms MSC Group's longstanding commitment to invest in Africa and to strengthen supply chains across the continent, as well as connecting it to the rest of the world," MSC said.