MSC Group’s wholly owned subsidiary SAS Shipping Agencies Services has completed the acquisition of Bolloré Africa Logistics.
The deal, which was announced earlier this year, was approved by all applicable regulatory authorities.
MSC said that its acquisition of Bolloré Africa Logistics and its affiliates highlights its long-term commitment to invest in African supply chains and infrastructure, supporting the needs of clients of both businesses.
MSC reiterated 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.
The shipping giant added that, backed by its financial strength and operational expertise, Bolloré Africa Logistics will be able to meet all its commitments to governments, particularly regarding port concessions.
MSC group president Diego Aponte said: “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.”