The CMA CGM Group has completed the sale of 100% of subsidiary Bolloré Logistics’ activities in Guadeloupe, Martinique, Saint-Martin, French Guiana, and Polynesia to the Balguerie Group.
The Marseille-headquartered shipping giant was required to sell operations in the French Overseas Territories by the European Commission and the Polynesian Competition Authority as part of the conditions for approval of its takeover of Bolloré.
“CMA CGM is delighted to see these operations and their staff members join Groupe Balguerie, a renowned French family company with recognised expertise in transport and logistics,” the company said following confirmation of the deal.
Bolloré Logistics’ operations in La Réunion and New Caledonia are not affected by this transfer and are now part of CMA CGM’s CEVA Logistics, which has also incorporated the overall Bolloré Logistics business.
CMA CGM’s €4.850bn deal to acquire Bolloré Logistics is its largest acquisition 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.