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CMA CGM Closes Bolloré Purchase

[ March 1, 2024   //   ]

CMA CGM on Feb. 29 said the French shipping and logistics company has completed the purchase of The Bolloré Group for 4.85 billion euros, based on estimated debt and cash on the completion date.
Bolloré Logistics, the transport and logistics business unit of Bolloré Transport & Logistics, reported 2022 turnover of 7.1 billion euros, 710,000 20-foot equivalent units of containers and 390,000 tons of air freight.
“We are proud to welcome a French flagship built on years of work and experience,” said Rodolphe Saadé, CEO and chairman of the CMA CGM Group. “The new entity, made up of CEVA and Bolloré Logistics, is the world’s No. 5 in its sector. We will now be able to offer our customers a complete range of services and extend our expertise to new businesses.”
“This is the beginning of a new chapter for Bolloré Logistics’ employees,” said Cyrille Bolloré, CEO and chairman of the Bolloré Group. “It is also a great opportunity for our customers around the world and I would like to take this opportunity to thank them for their trust and loyalty.”
CMA CGM said the acquisition is its largest since its creation in 1978, and “constitutes a major step in the CMA CGM Group’s logistics development strategy, complementing its historical maritime transport line of business,” the companies said in a release.

Rodolphe Saadé, CEO and chairman of the CMA CGM Group (left), and Cyrille Bolloré, CEO and chairman of the Bolloré Group. PHOTO: CMA CGM

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