Willkie Farr & Gallagher and Khaitan & Co have advised on the Bolloré Group’s EUR4.85 billion (USD5.3 billion) sale of its logistics subsidiary to shipping company CMA CGM.
Khaitan advised on the Indian law aspects of the transaction, and played a key role in structuring and successfully concluding the deal. Partner Atul Pandey led the Khaitan team, with the aid of principal associates Arjun Bhagi and Hirak Mukhopadhyay, as well as associates Shivansh Mehta, Shruti Gupta and Mehul Mehta.
Executive director Vinita Krishnan, principal associate Sneh Shah and senior associate Viraj Doshi assisted on the direct tax matters. Partner Mayank Jain and associate Sachi Upadhyaya advised on the indirect tax aspects of the sale. Partner Pranjal Prateek and associate Rishabh Vohra assisted on competition law.
Willkie Farr & Gallagher advised CMA CGM on its largest deal to date. Partners Daniel Hurstel, Gabriel Flandin and Annette Péron led the team, which included partner Faustine Viala and associates Lafia Chaïb, Ji-Soo Kim, Hugo Kerbib, Maud Boukhris and Charles Bodreau.
Bolloré Logistics and CMA CGM are both international transport and logistics companies.
CMA CGM, the world’s third-largest container line based in the southern French port city of Marseille, is privately controlled by the founding Saade family. CMA CGM offers container liner shipping, port services, and sea and air freight forwarding. It is under the exclusive control of Merit Shipping and is also engaged in the press sector in France through La Provence newspaper in Marseille.
In 2022, Bolloré Logistics generated turnover of EUR7.1 billion, and moved 710,000 TEUs of ocean freight and 390,000 tonnes of air freight. Additionally, it has 900,000 square metres of storage.
“The remedies offered by the parties will ensure that the local sea freight forwarding markets remain competitive and that, ultimately, local customers do not end up paying higher prices for products imported from mainland Europe,” said Margrethe Vestager, executive vice-president in charge of competition policy at the European Commission.
