MSC Group Completes Purchase of Bolloré Africa Logistics

French conglomerate Bollore, run by the family of billionaire Vincent Bollore, said on Wednesday it had completed the sale of its Bolloré Africa Logistics arm to shipping company MSC Group.

The Bolloré company added the transaction was on the basis of a 5.7 billion euro ($6.1 billion) enterprise value.

“The Bolloré Group will remain strongly involved in Africa, notably through Canal+, and will also continue to develop on this continent its activities in many fields such as communications, entertainment, telecommunications and publishing,” added the company in a statement.

The Bolloré company holds 29.5% of French media company Vivendi and roughly 18% of Universal Music Group, as well as a small stake in Italian bank Mediobanca.

($1 = 0.9421 euros)

(Reuters - Reporting by Sudip Kar-Gupta; Editing by David Goodman and Mark Potter)