French shipping group CMA CGM has agreed to acquire 100% of Bolloré Logistics for €5 billion (around US$5.5 billion), after exclusive negotiations between the two companies.
Bolloré Group has not yet approved the deal, saying that it has accepted this put option strictly as an offer.
“The information and consultation procedures with the relevant staff representative bodies of the Bolloré Group pertaining to this transaction shall now be initiated,” stated Bolloré Group adding that the decision as to whether or not to exercise this put option will be taken at the end of these procedures.
CMA CGM noted that it will become a top-5 player in the global logistics industry if the agreement will be approved.
