CMA CGM committed to purchase Bolloré Group’s transport, logistics operations
| On May 8th, the CMA CGM Group granted a put option to the Bolloré Group to sell the transport and logistics operations of Bolloré Logistics. CMA CGM set to 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. |
The put option was granted at the end of the period of exclusive discussions announced on April 18. Bolloré Group has accepted the proposal as a put option. Final completion of the transaction remains subject, first, to the examination by employee representation, and then to customary regulatory approvals. If the acquisition is finalized, it would significantly strengthen the CMA CGM Group’s logistics business and make a top five player in global logistics. Capabilities scaled up to form a world leader in transport, logistics The combined operations of the CMA CGM Group’s logistics activities and Bolloré Logistics would have combined revenues of approximately USD24 billion (based on 2022 results). Following the acquisitions of Ingram Micro Commerce & Lifecycle Services and Colis Privé, then of GEFCO, which boosted CEVA’s capabilities in eCommerce contract logistics and automotive logistics, respectively, the acquisition of Bolloré Logistics would further strengthen the sea and air freight activities of the Group’s logistics division. The combined entity would have an annual shipping volume equivalent to more than 2 million TEUs of sea freight and 0.8 million tons of air freight. With the addition of Bolloré Logistics, the CMA CGM Group and its subsidiary, CEVA Logistics, would gain further expertise in high-value sectors, both in sea and air freight management and in contract logistics. Bolloré Logistics is currently a world leader in transport and logistics solutions for the luxury goods, fragrances and cosmetics, healthcare, aerospace, and defense sectors. The CMA CGM Group already operates in more than 160 countries, with 155,000 employees. This deal would add more than 14,000 new employees operating out of 350 offices in 63 different countries. The Group’s warehouse space would increase by more than 900,000 square meters at 115 different warehouses, in addition to the 10.3 million square meters already managed by CEVA at its 900 warehouses around the world. The acquisition would also open up access to major logistics hubs, especially in France and Asia. |
Original article HERE
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