CMA CGM initiates sale talks with Balguerie Group
CMA CGM is in talks to divest part of Bolloré Logistics due to regulatory obligations.
French shipping and logistics company CMA CGM, founded in 1978, is currently negotiating with the Balguerie Group to sell certain Bolloré Logistics operations. This decision was made in accordance with regulatory commitments made to the European Commission and the Polynesian Competition Authority regarding CMA CGM's acquisition of Bolloré Logistics.
The proposed divestiture aims to sell operations in key regions, including Guadeloupe, Martinique, Saint-Martin, French Guiana, and Polynesia. The Group has already started the sale process for 100% of Bolloré Logistics' activities in these regions.
The Balguerie Group has given the CMA CGM Group a put option, which has agreed to sell its activities exclusively to them. However, the deal's successful completion depends on clearing various procedural milestones, including obtaining regulatory approval and consulting with relevant work councils.
It is important to note that Bolloré Logistics' operations in La Reunion and Nouvelle Calédonie will remain unaffected and under the management of the CMA CGM Group. The outcome of these negotiations will have significant implications for both CMA CGM and Balguerie Group, potentially changing the logistics landscape in the regions affected.
In May 2023, CMA CGM announced its intention to acquire Bolloré Logistics. On February 29, 2024, the €4.85 billion deal was completed, marking CMA CGM's largest acquisition to date. This strategic move has allowed CMA CGM to further strengthen its logistics operations and enhance its maritime transport services.
