These two conglomerates have announced that the transaction value is 4.85 billion euros (equivalent to 5.25 billion USD), based on estimates of cash and debt on the completion date of the deal.
In 2022, Bolloré Logistics achieved a revenue of 7.1 billion euros (equivalent to 7.7 billion USD), transporting 710,000 TEUs of goods by sea and 390,000 tons of goods by air, along with storage capacity of up to 900,000 square meters.
This deal marks the largest acquisition in CMA CGM's history since its establishment in 1978 and is a significant step in the Group's logistics development strategy.
"The combination of CEVA and Bolloré Logistics will create a new group ranked in the top 5 globally in the logistics sector," emphasized Rodolphe Saadé, CEO and Chairman of the CMA CGM Group. "Now, we can provide customers with comprehensive services and expand our business into new areas. On behalf of the CMA CGM Group and the Saadé family, I am delighted to welcome 14,000 employees joining us today."
Cyrille Bolloré, CEO and Chairman of Bolloré Group, stated: "This is the beginning of a new chapter for the Bolloré Logistics team. I am very pleased to see them working at the CMA CGM Group and the Saadé family. They will bring the unique knowledge and skills that were once the pride of the Bolloré Group to become the pride of CMA CGM in the future. This is also a great opportunity for our customers worldwide, and I want to take this opportunity to thank them for the trust and loyalty they have shown to the Group.
CEO and Chairman of CMA CGM Group, Rodolphe Saadé, along with CEO and Chairman of Bolloré Group, Cyrille Bolloré.
The announcement indicates that the transfer deal of Bolloré Logistics Sweden AB to CMA CGM Group is still subject to approval for foreign investment in Sweden.
Source: Container News
