French-based CMA CGM is about to enhance its logistical powers with a possibly imminent acquisition of French billionaire Vincent Bolloré’s logistics business.

The French carrier has thus initiated exclusive negotiations on the acquisition.

This was evident in a press release from CMA CGM, which is spearheaded by Rodolphe Saadé as both majority shareholder and chief executive officer.

Bolloré Group confirms in a statement that the company has received an unsolicited acquisition offer on its freight and logistics activities at EUR 5bn including debt.

”The negotiations fall in line with CMA CGM’s long-term strategy, which is based on two pillars: shipping and logistics,” the statement from the carrier reads. CMA CGM clarifies that the strategy is to offer customers solutions to all parts of their supply chains.

”If the agreement materializes, the acquisition will strengthen CMA CGM’s logistics activities even furhter,” the statement explains.

There were already rumors of CMA CGM’s interest in Bolloré back in February. According to Bloomberg, Saadé had seen Bolloré’s logistics business as an obvious acquisition target for quite some time.

The carrier underlines that negotiations are no guarantee of an acquisition.

English edit: Christian Radich Hoffman