Mediterranean Shipping Company (MSC) Group, a world leader in container shipping and the wholly owned subsidiary of SAS Shipping Agencies Services has completed the acquisition of Bolloré Africa Logistics. The transaction was authorized by all applicable regulatory authorities.
Mediterranean Shipping Company’s acquisition of Bolloré Africa Logistics SAS and its affiliates (“Bolloré Africa Logistics Group”) underlines the long-term commitment of MSC to support the needs of clients of both businesses and to invest in African supply chains and infrastructure.
MSC restates that it will operate Bolloré Africa Logistics Group as a self-governing entity with its range of diversified partners, under a new brand to be unveiled in 2023. Philippe Labonne will continue his venerable position at the helm of the business as President of Bolloré Africa Logistics.
Mediterranean Shipping Company intends to continue enriching the continent’s connectivity with the wider world and facilitate trade within Africa amid the implementation of continental free trade (AfCFTA). Backed by MSC Group’s financial strength and operational capability, Bolloré Africa Logistics will be able to meet all its commitments to governments, specifically concerning port reductions.
MSC Group President Diego Aponte said the company is delighted to welcome more than 21,000 new colleagues to the MSC family through its acquisition of Bolloré Africa Logistics. He thanked the Bolloré family, and Cyrille in particular, for having conducted the transaction smoothly and effectively and he congratulated them for having created such a well-founded business.
The transaction will strengthen MSC’s venerable ties with Africa and will reinforce its commitment to the continent’s economic growth, including investment in the ships, shipyards, container terminals, logistic solutions, storage facilities, road and rail networks that will support and enhance trade across the African continent and with the countries around the world. The company’s strategy continues to be entrenched in its values and in its long-term vision that protects all over 150,000 people in 155 countries around the world.
About MSC
Mediterranean Shipping Company (MSC), headquartered in Geneva, Switzerland, is a global leader in transportation and logistics, privately owned and founded in 1970 by Gianluigi Aponte. As one of the world’s leaders in container shipping, MSC has 675 offices in 155 countries around the world with more than 150,000 employees.
With access to an integrated group of, rail, road, and sea transport merchandise that extends across the globe, the company is proud to support people, infrastructure, economies, and the environment across all its regional and international trade routes, providing the foundation for global trade and keeping its customers’ cargo flowing, even in tough times.