Friday, July 12, 2024

Bolloré group mulls selling logistics business in Africa


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[dropcap]B[/dropcap]olloré group is studying the sale of its logistics activities in Africa, reports French news outlet Le Monde citing  corroborating sources.

The business is owned by  French businessman Vincent Bolloré.

A pole which was for a long time the “cash cow” of the businessman, helping him to finance his raids and other conquests.

The Morgan Stanley investment bank was tasked with discreetly surveying the interest of potential buyers, in particular the big names in shipping. 

The French CMA CGM examines the case, as well as the Danish Maersk. The port operator Dubai Ports World and the Chinese Cosco Shipping, manager of the Greek port of Piraeus, could also join the ranks. While large private equity funds like Ardian or KKR are full of capital, most of them are limited, by their status, in their ability to invest in emerging countries. When questioned, the group declined to comment.

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