Bollore Africa Logistics News

French shipping group CMA CGM is offering 5 billion euros ($5.48 billion) for the logistics unit of Bollore, the family-run conglomerate said on Tuesday.For Bollore a deal would mean cutting ties with its biggest business while offering cash-rich CMA CGM a chance to bolster its bid to offer end-to-end transportation services and supply chain management.The business posted more than 7 billion euros in revenue last year and has 15,000 employees.News of the indicative offer, made on a cash free and debt-free basis, boosted Bollore's shares.Bollore disclosed it following a report in shipping publi

At least two investors are expected to submit binding bids on Thursday for a majority stake in Greece's northern port of Alexandroupolis, sources close to the process told Reuters.Near the borders with Bulgaria and Turkey, and with rail links and a floating gas regasification unit in the pipeline, Alexandroupolis has potential as a transport and energy hub for central Europe.Four investors were shortlisted last year for a 67% stake in the port: Quintana Infrastructure and Development…

A French judge on Wednesday placed tycoon Vincent Bollore under formal investigation over allegations his company undercharged for work on behalf of presidential candidates in two African nations in return for port contracts.Bollore's company, Groupe Bollore, announced the decision by Judge Serge Tournaire, which came after Bollore had been questioned for two days by French fraud police.Bollore, whose logistics empire is a powerhouse in former French colonies across West Africa…

The Ghana Ports and Harbours Authority (GPHA) has received 1.5 billion dollars for the expansion of the Tema Port. The authority today signed a 35-year Concessionary Agreement with the Meridian Port Services (MPS) to boost expansion activities at the port. The Minister for Transport, Dzifa Attivor who witnessed the signing in Accra said the project will enhance the efficiency of the Port and make it more competitive. The expansion project which is scheduled to be completed in three years includes plans for the potential construction of additional terminal facilities, including bulk, liquid bulk and general cargo terminals, as global trade with Africa continue to accelerate.

Danish shipping group A.P. Moller-Maersk said on Friday its APM Terminals unit would together with partners invest $1.5 billion to upgrade its Tema port terminal in Ghana and add 3.5 million TEUs in annual throughput capacity.   Partners are Bollore Africa Logistics and the Ghana Ports and Harbour Authority.   (Reporting by Sabina Zawadzki, editing by Anna Ringstrom)

A consortium led by France's Bollore failed to make the final shortlist of firms vying to manage a new container terminal in Cameroon's southern port of Kribi, according to a commission report seen by Reuters on Monday. The government commission, charged with recommending a container terminal manager, shortlisted Philippines-based ICTSI and port operator APM Terminals, a unit of shipping and oil conglomerate A.P. Moller-Maersk. The commission said in its report it had reservations over the sustainability of the proposal from Bollore's consortium and found the offers from ICTSI and APMT to be the most plausible. "The Commission accepted the offers of ICTSI and APMT as being the most advantageous for Cameroon and the central African sub-region," it said.

First half 2014 profit at shipping company Bollore Africa Logistics plunged to 5.89 billion CFA francs ($11.48 million) from 9.45 billion CFA francs in the same period last year, the company said on Monday. Turnover was 38.07 billion CFA, compared with 41.50 billion CFA francs the previous year, the company said in a statement on the West African bourse. "Events that generated supplementary costs disturbed our business and caused a loss of productivity," Bollore said. It said the problems included costs associated with a delay in setting up a company to regulate the value of imports as well as outlays connected to a delay in installing a new computer system. Bollore Africa Logistics, which is based in Abidjan, is an Ivory Coast subsidiary of French Bollore.