The CMA CGM Group on Thursday announced the completion of its acquisition and takeover of Bolloré Logistics from the Bolloré Group. This is the largest acquisition since its formation.
This comes after the transaction, which was recently approved by the European Commission for an estimated €4.850 billion purchase price, was made.
The CMA CGM Group’s acquisition of Bolloré Logistics Sweden is still contingent upon the latter’s receipt of Swedish approval for foreign investment.
According to CMA CGM, this transaction represents the company’s largest acquisition since its founding in 1978 and is a significant milestone in the logistics development strategy of the CMA CGM Group, which will enhance its long-standing maritime transport business.
Rodolphe Saadé, chief executive and chairman of the CMA CGM Group, said: “I would like to thank the Bolloré Group for the trustful dialogue we have established over the last few months to successfully finalize this acquisition. Within the CMA CGM Group, we are proud to welcome a French flagship built on years of work and experience.
“The new entity, made up of CEVA and Bolloré Logistics, is the world’s number 5 in its sector. We will now be able to offer our customers a complete range of services and extend our expertise to new businesses.
“On behalf of the CMA CGM Group and my family, I would like to welcome the 14,000 employees who are joining us today. Together, we will combine our talents and accelerate our development!”
Cyrille Bolloré, chief executive and chairman of the Bolloré Group, added: “This is the beginning of a new chapter for Bolloré Logistics’ employees. I am very pleased that they are joining the CMA CGM Group and the Saadé family.
“They will bring unique expertise and know-how, which have long made the pride of the Group and which will be the pride of CMA CGM tomorrow. It is also a great opportunity for our customers around the world and I would like to take this opportunity to thank them for their trust and loyalty.”
