The sale of Bolloré Logistics, if this "spontaneous offer" of CMA CGM is successful, will be the second of its kind in a few months for Bolloré, after the sale concluded at the end of December of its African logistics branch to another shipowner, competitor of CMA CGM, the Italian-Swiss MSC, for 5.7 billion euros.

According to CMA CGM, "this entry into exclusive discussions is part of the group's strategy" based on "maritime transport and logistics, and which aims to offer and develop complete solutions to support its customers' supply chains".

"If successful, this acquisition would strengthen the logistics activity of the CMA CGM group," said the group, while warning that "these discussions do not prejudge the finalization of a possible acquisition".

For its part, the Bolloré group confirmed, in a separate statement, "to have received from the CMA CGM group an unsolicited purchase offer for its transport and logistics commission activities grouped in Bolloré Logistics, on the basis of an enterprise value (...) of EUR 5 billion".

It is now a question of carrying out "a confirmatory audit phase and the holding of contractual negotiations so that CMA CGM can submit, if necessary, a promise to purchase corresponding to this offer around May 8, 2023", according to the same source.

Bolloré also noted that the completion of the transaction would remain "subject to obtaining regulatory authorizations" and that "no decision to sell will be taken before the outcome of the information and consultation procedures of the competent employee representative bodies".

The board of directors of the Bolloré group is expected to decide on the interest of this offer at a meeting on Tuesday.

Long in the red, CMA CGM took full advantage of the overheating of maritime transport created by the Covid-19 crisis, with a record net profit of more than 23 billion euros in 2022, surpassing the CAC 40 groups.

Directed by Rodolphe Saadé, it has multiplied acquisitions and participations in French flagships.

In 2022, the shipowner acquired a stake in Air France-KLM and Eutelsat, and acquired vehicle carrier Gefco as well as companies in e-commerce logistics. This year, it also took 12% of Brittany Ferries.

Mr. Saadé bought the pillar of the local press La Provence, took a minority stake in the M6 group and the online video media Brut, and CMA CGM will become the main sponsor of Olympique de Marseille this summer.

The Bolloré group gained more than 4% on the Paris Stock Exchange and Vivendi, controlled by Bolloré, soared 6% around 13:50 p.m., in a slightly higher market.

© 2023 AFP