CMA CGM and Bolloré agree €5bn logistics deal

PRESS RELEASE

May 8, 2023

PUT OPTION BY CMA CGM TO ACQUIRE 100% OF BOLLORE LOGISTICS

On 08 May 2023, the Bolloré Group received from the CMA CGM Group a put option to acquire 100% of Bolloré Logistics for an enterprise value of 5 billion euros. This undertaking is the result of exclusive negotiations announced on 18 April 2023 between the Bolloré Group and the CMA CGM Group.

The Bolloré Group has accepted this put option strictly as an offer.

The information and consultation procedures with the relevant staff representative bodies of the Bolloré Group pertaining to this transaction shall now be initiated.

The decision as to whether or not to exercise this put option will be taken at the end of these procedures. As a result of adjustments agreed between the parties primarily relating to the valuation of minority interests and to IFRS16 debt, the purchase price would amount to 4.650 billion euros, prior to calculating debt and cash on the completion date.

The Bolloré Group as of now confirms the implementation of the contingent earn-out mechanism of €0.25 for each Bolloré SE share tendered to the simplified cash tender offer of Bolloré SE on its own shares, as announced on 18 April 2023. This contingent earn-out will be paid if the put option received from CMA CGM is exercised and the sale of 100% of Bolloré Logistics is completed pursuant to agreed upon terms.