The CMA CGM Group has granted a put option to Bolloré Group for the sale of Bolloré Logistics, its transport and logistics operations.
This move comes after a period of exclusive discussions previously announced; Bolloré Group has now accepted the proposal.
The transaction’s final completion is subject to employee representation examination and customary regulatory approvals.
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The combined revenues of the Group’s logistics activities and Bolloré Logistics would reach approximately $24 billion, based on 2022 results, as well as strengthen the sea and air freight activities of the Group’s logistics division – following previous acquisitions such as Ingram Micro Commerce & Lifecycle Services, Colis Privé, and GEFCO.
The acquisition of Bolloré Logistics is also anticipated to bring CMA CGM Group’s annual shipping volumes to over 2 million TEU of sea freight and 0.8 million tonnes of air freight.
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The deal represents the largest since the Group’s establishment in 1978.
CMA CGM believes this acquisition will have a significant impact on its logistics business, propelling it to become one of the top five players in global logistics.
According to global shipping expert Lars Jensen, however, assessing the ranking of logistics companies presents a challenge due to the diverse metrics used for evaluation. Depending on the criteria considered, such as total revenue, container volume, and supply chain management volume, the composition of the top-five list can vary significantly.
CMA CGM reported impressive financial results for the full year 2022, with revenues rising 33 per cent over the year prior.
The company achieved $74.5 billion in revenues. The EBITDA margin increased by 3.4 points from the previous year, with EBITDA reaching $33.3 billion, representing a margin of 44.7 per cent.