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MSC Group completes purchase of Bollore Africa Logistics

French conglomerate Bollore, run by the family of billionaire Vincent Bollore, said on Wednesday it had completed the sale of its Bollore Africa Logistics arm to shipping company MSC Group.

By Sudip Kar-Gupta

22 Dec 2022

Vincent Bollore, Chairman of the Supervisory Board of media group Vivendi, speaks during the company's shareholders meeting in Paris, France, April 19, 2018. REUTERS/Charles Platiau

The Bollore company said that the transaction was on the basis of a €5.7bn ($6.1bn) enterprise value.

"The Bollore Group will remain strongly involved in Africa, notably through Canal+, and will also continue to develop on this continent its activities in many fields such as communications, entertainment, telecommunications and publishing," the company said in a statement.

The Bollore company holds 29.5% of French media company Vivendi and roughly 18% of Universal Music Group, as well as a small stake in Italian bank Mediobanca.

Source: Reuters

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