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GENEVA, Dec. 22, 2022 /PRNewswire/ -- MSC Group is pleased to confirm that its wholly owned subsidiary SAS Shipping Agencies Services has completed the acquisition of Bolloré Africa Logistics. The transaction was approved by all relevant regulatory authorities.
MSC's acquisition of Bolloré Africa Logistics SAS and its subsidiaries ("Bolloré Africa Logistics Group") underscores MSC's long-term commitment to investing in African supply chains and infrastructure, supporting the needs of both companies' customers.
MSC reiterates that it will operate Bolloré Africa Logistics Group as a stand-alone entity with its diversified portfolio of partners, under a new brand to be unveiled in 2023. Philippe Labonne will continue his long-standing role at the helm of the business as Chairman of Bolloré Africa Logistics .
MSC intends to continue to improve the continent's connectivity with the rest of the world and enable intra-Africa trade amid the implementation of the Continental Free Trade Agreement (AfCFTA). Backed by the financial strength and operational experience of the MSC Group, Bolloré Africa Logistics will be able to meet all its commitments to governments, particularly with regard to port concessions.
The president of the MSC group, Diego Aponte, said:
"We are delighted to welcome more than 21,000 new colleagues to the MSC family through our acquisition of Bolloré Africa Logistics. I wish to thank the Bolloré family, and Cyrille in particular, for making the transaction smooth and efficient, and I congratulate you on building such a well-established business.
"The agreement will strengthen MSC's long-standing ties with Africa and reinforce our commitment to the continent's economic growth, including investment in ships, shipyards, container terminals, logistics solutions, storage facilities, road and rail networks that will support and they will enhance trade across the African continent and with the rest of the world. Our strategy remains rooted in our values and long-term vision that protects more than 150,000 employees in 155 countries around the world."
MSC Mediterranean Shipping Company, headquartered in Geneva, Switzerland, is a world leader in shipping and logistics, privately owned and founded in 1970 by Gianluigi Aponte. As one of the world's leading container shipping lines, MSC has 675 offices in 155 countries around the world with more than 150,000 employees. With access to an integrated network of road, rail and ocean transportation resources that spans the globe, the company prides itself on offering global service with local knowledge. MSC's shipping line navigates more than 260 trade routes and calls at more than 520 ports.
For more information, visit www.msc.com.
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