CMA CGM S.A. signed an agreement to acquire Bolloré Logistics GIE from Bolloré SE (ENXTPA:BOL) in a transaction valued at ?4.65 billion on July 11, 2023. The purchase price is prior to calculating debt and cash on the completion date. The Bolloré Group confirms the implementation of the contingent earn-out mechanism of ?0.25 for each Bolloré SE share tendered to the simplified cash tender offer of Bolloré SE on its own shares, closed on May 30, 2023. This contingent earn-out will be paid if the sale of Bolloré Logistics is completed pursuant to agreed terms. As of February 9, 2024, the Polynesian Competition Authority will block the takeover deal unless CMA CGM cancels one of its liner services, the Panama Direct Line, or sells Bolloré?s subsidiary in the region and the body has also demanded CMA CGM agree to a no-compete clause in Polynesia for five years as the body identified high competitive risks of eviction of competitors to the detriment of competitive activity favourable to freight forwarders and ultimately to consumers. The final completion of the sale remains subject to obtaining authorizations under the control of concentrations and foreign investments in the jurisdictions. As on February 23, 2024, The European Commission has approved, under the EU Merger Regulation, the proposed acquisition of Bolloré Logistics SE (?Bolloré Logistics') by CMA CGM S.A. (?CMA CGM'). The approval is conditional upon full compliance with the commitments offered by the parties.

Daniel Hurstel, Gabriel Flandin, Annette Péron, and Faustine Viala of Willkie Farr & Gallagher LLP acted as legal advisor to CMA CGM. SG Corporate & Investment Banking acted as financial advisor to Bolloré SE. Mediobanca Banca di Credito Finanziario S.p.A. (BIT:MB) acted as Financial Advisor to CMA CGM S.A. Morgan Stanley International Limited acted as financial advisor to CMA CGM Group.
CMA CGM S.A. completed the acquisition of Bolloré Logistics GIE from Bolloré SE (ENXTPA:BOL) for ?4.85 billion on February 29, 2024. Bolloré Logistics achieved in 2022 a turnover of ?7.1 billion. As a part of acquisition, 14,000 employees will be joining CMA CGM. Atul Pandey, Vinita Krishnan, Mayank Jain and Pranjal Prateek of Khaitan & Co acted as advisor to Bolloré Group.