CMA CGM has offered to acquire the Bolloré group’s logistics and transportation business, Bolloré Logistics.
The two groups have commenced negotiations around CMA CGM’s proposed acquisition on the basis of a €5 billion ($8.15 billion) cash-free and debt-free enterprise value.
Bolloré described the offer as “spontaneous” and said its logistics business would be integrated with Ceva Logistics if the deal goes ahead.
“Following this offer, the Bolloré Group and the CMA CGM Group entered into exclusive talks to enable a confirmatory due diligence process and engage in contractual negotiations of a put option, based on such offer, to be issued by CMA CGM, if it so decides, on or about May 8, 2023,” Bolloré said in a statement.
It said both groups plan to report the outcome of the negotiations in due course, CMA CGM noting that the negotiations “in no way” guarantee an acquisition in the end.
“The transaction will remain in any event subject to regulatory approvals and no decision to sell will be taken until the end of the information and consultation procedures of the competent employee representative bodies,” Bolloré said.
It said Bolloré’s board of directors is meeting to consider the offer price and discuss a proposed earn-out for the simplified cash tender offer of Bolloré on its own shares.
Bolloré Logistics claims it has a presence on five continents, with 600 agencies across 111 countries.
It has five offices and seven warehouses in Australia.
