The European Union Commission, in accordance with the EU Merger Regulation, has announced its approval for CMA CGM S.A. (‘CMA CGM’) proposal to acquire Bolloré Logistics SE (‘Bolloré Logistics’). The EU made this disclosure in a release on Friday, 23 February 2024 stating that that approval is contingent on complete adherence to the promises made by the involved parties.
CMA CGM and Bolloré Logistics are both international transport and logistics companies. CMA CGM provides container liner shipping and port terminal services while Bolloré Logistics offers freight forwarding and contract logistics services.
CMA CGM Group entered into exclusive negotiations with the Bolloré Group to acquire Bolloré Logistics’ transportation and logistics activities in April last year. The deal is thought to be worth about €4.6bn.
The European Commission had expressed concerns about reduced competition resulting from the acquisition, stating that rival freight forwarders could lose out on business.
To address the Commission’s competition concerns, the parties offered to divest all of Bolloré Logistics’ activities in Guadeloupe, Martinique, Saint Martin, and French Guiana; and a number of assets in metropolitan France linked to these activities.
These commitments according to the EU fully address the competition concerns identified by the Commission, by removing the vertical link between CMA CGM’s container liner shipping activities and Bolloré Logistics’ sea freight transport activities in the concerned territories.
