The CMA CGM Group is currently in exclusive talks with Bolloré Logistics to acquire its transportation and logistics operations.
Bolloré Logistics is valued at around $5.5 billion, and discussions between the two parties are expected to continue until 8 May.
The potential acquisition would significantly boost CMA CGM’s logistics services and help the company offer a more comprehensive range of solutions to customers across the globe.
In recent months, there has been speculation about CMA CGM’s interest in Geodis, which is owned by the French railway SNCF. However, no official statements have been released regarding a potential acquisition.
READ: GEODIS, Volvo turn to e-trucks for freight forwarding
MSC, a competitor of CMA CGM, completed its acquisition of Bolloré Africa Logistics in December for $5.1 billion.
CMA CGM pointed out that the negotiations with Bolloré Logistics are likely to take a considerable amount of time, and there is no assurance that a final agreement will be reached.
Most recently, Bolloré Africa Logistics announced that it will now operate under a new brand name, Africa Global Logistics (AGL).
AGL aims to contribute to the sustainable transformation of Africa and emerging markets with its customised, global, and innovative logistics solutions, as part of the MSC Group.