PARIS, Dec 20 (Reuters) - French billionaire Vincent Bollore
has received a 5.7 billion-euro ($6.43 billion) offer from
Mediterranean Shipping Company (MSC) for his African logistics
assets, a deal that would transform his family group just two
months before his self-declared retirement.
His company, French conglomerate Bollore SE,
announced the bid earlier on Monday.
The offer by privately owned MSC, the world's second-largest
container shipping company, comes after major acquisitions by
its rivals CMA CGM and Maersk in port infrastructure
and non-maritime logistics services.
The COVID-19 pandemic has prompted shortages of container
ships and created logjams at ports at a time of very high
consumer spending, which has sent freight rates to record
levels.
This has filled the coffers of the biggest shipping lines
and prompted them to seek further integration by snapping up
land-based services.
Against this backdrop, Bollore group could not keep up with
the investments called for by increased competition in Europe as
well as by the entrance of cash-rich newcomers from China and
the Middle-East, a source close to the matter said.
Bollore Africa Logistics' revenue fell by 10% last year due
to a fall in activity and the end of its concession in Douala,
Cameroon.
The French government is likely to scrutinize the
transaction as the infrastructures controlled Bollore's entity
are deemed strategic by the former colonial power in West
Africa.
"It's on good track," the source said, adding that Bollore
gave a heads-up to the government before announcing the
potential deal.
The sale of Bollore's African assets would deprive the
listed family-owned group, valued at 12.9 billion euros on the
market, of a large chunk of its historical activities and would
make its holdings in media group Vivendi the company's
centre of gravity.
The announcement comes just two months before Vincent
Bollore, 69, is set to hand over the reins of this group to his
four children.
The businessman, who spent most of his adult life building
up this key activity through acquisitions and personal
connections with statesmen in West Africa, has repeatedly said
he would retire on Feb. 17, 2022, which marks the 200th
anniversary of the group, founded in Brittany.
Bollore Africa Logistics employs about 20,800 people and has
16 container terminal concessions, including in Ivory Coast,
Ghana, Nigeria and Gabon. It also operates three rail
concessions in the region.
MSC is a Swiss-Italian company based in Geneva and
controlled by the Aponte family. Its subsidiary MSC Cruises is
one of the major cruise companies in the world.
($1 = 0.8864 euro)
(Reporting by Gdansk newsroom, Mathieu Rosemain and Gwenaelle
Barzic in Paris; Editing by Tassilo Hummel, Cynthia Osterman and
Matthew Lewis)