French logistics group Bollore has agreed to sell its African operations to container shipping company Mediterranean Shipping Company (MSC) for $6.3 billion.
Bollore on Thursday said in a statement that the deal, which is awaiting regulatory approval, is expected to be completed at the end of the first quarter of 2023.
The multibillion-dollar deal will see MSC Group take 100 percent control of Bolloré Africa Logistics its shipping, logistics, and terminal operations on the continent.
As part of the deal, MSC will also take over the company's terminal operations in Haiti, India, and East Timor.
Bollore Africa is one of the largest transport and logistics firms on the continent. The information available on its website says that it has operations in 47 African countries with around 21,000 employees.
The firm also has 74 agencies in 32 African countries.
With a network of 250 subsidiaries, the company has activities in 42 ports, runs 16 container terminal concessions and operates three railways concessions.