French conglomerate Bollore, run by the family of billionaire Vincent Bollore, said on Wednesday it had completed the sale of its Bollore Africa Logistics arm to shipping company MSC Group.
The Bollore company added the transaction was on the basis of a 5.7 billion euro ($6.1 billion) enterprise value.
“The Bollore 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 Bollore company holds 29.5% of French media company Vivendi (VIV.PA) and roughly 18% of Universal Music Group, as well as a small stake in Italian bank Mediobanca.
Source: Reuters.com