French logistics group Bollore Logistics announced on Wednesday it had completed the sale of its Bollore Africa Logistics arm to global shipping company MSC Group for KES 750.3 billion.
Under the share purchase agreement, MSC Group has acquired a 100% stake in the French conglomerate’s African operations as well as some of its terminal operations in India, Timor-Leste and Haiti.
Bollore Kenya has seven warehouses, eight offices and over 1,000 employees.
It is not yet clear how the sale will affect the company’s local operations.
The multi-billion-dollar deal will include acquiring the firm’s shipping, logistics, and terminal operations on the continent.
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