Bollore is in talks with MSC to sell African logistics assets for $6.4 billion

MSC Group, a Swiss-Italian container shipping line, offered to buy the African assets of the logistics unit of Bollore Group, founded by the family of French billionaire Vincent Bollore.

Bollore received an offer for Bollore Africa Logistics on the basis of an enterprise value, net of minority interests, of 5.7 billion euros ($6.4 billion), the French company said in a statement Monday.

“Bollore Group has granted the MSC Group an exclusivity until March 31, 2022 to enable MSC, further to an additional due diligence phase and contractual negotiations, to submit a put option, ” the company said.

In October, French newspaper Le Monde reported that Bollore was looking for a buyer for the assets. The unit generated 2.1 billion euros in revenue last year and would be valued between 2 and 3 billion euros, the newspaper reported.

Bollore shares dropped 1.6% in Paris on Monday, valuing the company at 12.7 billion euros.