MSC Completes Acquisition Of Bollore, TICT, Others, Absorb 21,000 Workers
Fred Omotara, Lagos
The Mediterranean Shipping Company (MSC) on Wednesday completed the official take-over of Bolloré Africa Logistics, (which includes Tin-Can Island Container Terminal, TICT and all other logistics and ports businesses under Bollore). The transaction was approved by all applicable regulatory authorities on Wednesday.
MSC’s acquisition of Bolloré Africa Logistics and its affiliates highlights the long-term commitment of MSC to invest in African supply chains and infrastructure, supporting the needs of clients of both businesses, MSC Group President Diego Aponte stated after completing the acquisition.
According to Diego Aponte, “We are delighted to welcome more than 21,000 new colleagues to the MSC family through our acquisition of Bolloré Africa Logistics.
“I wish to thank the Bolloré family, and Cyrille in particular, for having conducted the transaction in a smooth and efficient way and I congratulate them for having created such a well-established business.
“The deal will strengthen MSC’s longstanding ties with Africa and will reinforce our commitment to the continent’s economic growth, including investment in the ships, shipyards, container terminals, logistic solutions, storage facilities, road and rail networks that will support and enhance trade across the African continent and with the rest of the world.
“Our strategy remains rooted in our values and in our long-term vision that protects over 150,000 employees in 155 countries worldwide.”
MSC reiterates that it will operate Bolloré Africa Logistics Group as an autonomous entity with its portfolio of diversified partners, under a new brand to be unveiled in 2023. Philippe Labonne will continue his longstanding role at the helm of the business as President of Bolloré Africa Logistics.
Backed by MSC Group’s financial strength and operational expertise, Bolloré Africa Logistics will be able to meet all its commitments to governments, particularly regarding port concessions