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In a sign of scepticism about market behaviour, CMA CGM has pushed back implementation of ...
CMA CGM is in talks to take over Bolloré Logistics, as anticipated by Loadstar Premium last year.
Bolloré is thought to be worth about $5.5bn.
Sources had indicated that the ever-growing French group was planning a takeover of a major French logistics company and CMA CGM said today it had “entered into exclusive negotiations to acquire the transportation and logistics activities held through Bolloré Logistics”.
It added that the negotiations were in line with the group’s long-term strategy, “based on the two pillars of shipping and logistics”.
In a phrase reminiscent of Maersk, it said: “The group’s strategy is to offer end-to-end solutions in support of its customer’s supply chain needs.”
It added: “If a deal is reached, the acquisition would further strengthen the CMA CGM Group logistics activities. The negotiations in no way guarantee an acquisition.”
MSC completed its acquisition of Bolloré Africa Logistics in December, for $5.1bn. There has been speculation that CMA CGM was also looking at Geodis, owned by French railway SNCF, in a similar situation to DB Schenker.
Bolloré is clearly the target, but if CMA fails to agree a deal, Geodis could perhaps be Plan B. CMA CGM already owns Ceva Logistics and acquired Gefco from Russian Railways following the invasion of Ukraine.
See Loadstar Premium for more analysis on CMA CGM’s M&A ambitions.
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