CMA CGM has reiterated its commitment to purchase the transport and logistics operations of the Bolloré Group.

In a brief release, the French container transportation and shipping company said the deal would "reinforce its logistics expertise in differentiating, high-value industry verticals."

"With Bolloré Logistics, CMA CGM Group's logistics activities would become a Top Five global logistics player," CMA CGM said.

It added that this would also accelerate CMA CGM Group's diversification into logistics.

The CMA CGM Group announced on April 18 that it has entered into "exclusive negotiations" to acquire the transportation and logistics activities held through Bolloré Logistics.

It said then that the takeover bid of the family-owned Bolloré Logistics worth US$5.5 billion could see CMA CGM combining the logistics operations with its own, CEVA Logistics. 

"The negotiations are in line with the CMA CGM Group's long-term strategy, based on the two pillars of shipping and logistics. The Group's strategy is to offer end-to-end solutions in support of its customer's supply chain needs," CMA CGM said in the announcement.

Bolloré Logistics, for its part, has confirmed the offer from CMA CGM — posting a separate announcement about the "exclusive negotiations."

"The Bolloré Group confirms that it has received a spontaneous offer from the CMA CGM Group for the acquisition of its transportation and logistics activities held through Bolloré Logistics, on the basis of a €5 billion cash-free/debt-free enterprise value," it said in a statement.

Figures from Armstrong & Associates ranked Bolloré Logistics as 10th in terms of yearly airfreight volumes with 656,000 tonnes — while CEVA, is 14th with 474,000 tonnes.

The proposed combination of Bolloré Logistics and CEVA would see the creation of the world’s fifth-largest airfreight forwarder.

"Following this offer, the Bolloré Group and the CMA CGM Group entered into exclusive talks to enable a confirmatory due diligence process and engage in contractual negotiations of a put option, based on such offer, to be issued by CMA CGM, if it so decides, on or about May 8, 2023," the announcement earlier said.