$5.2bn Bolloré Logistics Acquisition Finalized by CMA CGM

The French shipping company CMA CGM has finalized its purchase of the family-owned Bolloré Logistics for €4.85 billion ($5.25 billion).

Despite the completion of the sale, the Bolloré Group indicated that the transfer of Bolloré Logistics Sweden AB to CMA CGM is pending, awaiting approval for foreign investment in Sweden.

Originally agreed upon in May 2023 for €5 billion, the acquisition encountered several regulatory obstacles. Approvals from competition authorities in Polynesia and the European Commission were secured following the divestiture of specific Bolloré assets and, in Polynesia's case, the termination of CMA CGM’s Panama Direct Line service.

Bolloré outlined that the final purchase amount of €4.85 billion was determined by the company's estimated debt and cash at the time of the deal's closure.

As a leading entity in transport and logistics, Bolloré reported revenues of €7.1 billion in 2022, handling 710,000 TEU of sea cargo and 390,000 tons of air freight, in addition to managing a storage space of 900,000 square meters.

Marking the most substantial acquisition since its establishment in 1978, CMA CGM views this as a pivotal expansion in its logistics strategy.

Rodolphe Saadé, the CEO and chairman of CMA CGM, celebrated the integration, stating, “The new entity, made up of CEVA and Bolloré Logistics, is the world’s number 5 in its sector. We will now be able to offer our customers a complete range of services and extend our expertise to new businesses. On behalf of the CMA CGM Group and my family, I would like to welcome the 14,000 employees who are joining us today.”