BOLLORE: EXCLUSIVE NEGOTIATIONS WITH THE CMA CGM GROUP REGARDING THE SALE OF BOLLORÉ LOGISTICS PROPOSED €0.25 EARN-OUT TO BE ADDED TO THE PRICE OF THE SIMPLIFIED TENDER OFFER CURRENTLY UNDER REVIEW

18 Apr 2023 13:32 CEST

PRESS RELEASE

        April 18, 2023

EXCLUSIVE NEGOTIATIONS WITH THE CMA CGM GROUP
REGARDING THE SALE OF BOLLORÉ LOGISTICS

PROPOSED €0.25 EARN-OUT TO BE ADDED TO THE PRICE OF THE SIMPLIFIED TENDER OFFER CURRENTLY UNDER REVIEW

Exclusive negotiations following receipt of an indicative offer from the CMA CGM Group to acquire the transportation and logistics activities

The Bolloré Group confirms that it has received a spontaneous offer from the CMA CGM Group for the acquisition of its transportation and logistics activities held through Bolloré Logistics, on the basis of a €5 billion cash free / debt free enterprise value.

Following this offer, the Bolloré Group and the CMA CGM Group entered into exclusive talks to enable a confirmatory due diligence process and engage in contractual negotiations of a put option, based on such offer, to be issued by CMA CGM, if it so decides, on or about May 8, 2023.

Bolloré SE and CMA CGM will report on the outcome of these negotiations in due course. The transaction will remain in any event subject to regulatory approvals and no decision to sell will be taken until the end of the information and consultation procedures of the competent employee representative bodies.

Proposed earn-out for the simplified cash tender offer of Bolloré SE on its own shares

A Board of directors of Bolloré SE is to be held today to resolve upon the simplified cash tender offer of Bolloré SE on its own shares announced on March 14, 2023, and determine its reasoned opinion regarding the merits of the Offer for Bolloré SE shareholders.

It will be proposed to the Board of directors to add to the €5.75 Offer price per Bolloré SE share (2022 additional €0.04 dividend included) a contingent €0.25 earn-out per Bolloré SE share if the CMA CGM offer for the acquisition of Bolloré Logistics leads to the sale of the latter in accordance with the transaction terms to be agreed.

This proposal has already been favorably reviewed by the ad hoc committee¹ and will be taken into account by the independent expert A2EF in its report to the Board of directors of Bolloré SE regarding the fairness of the Offer price.

A press release will be issued following the decision of the Board of Directors.

1 Composed of Mrs. Sophie Johanna Kloosterman, M. Alexandre Picciotto and M. François Thomazeau.

Attachment

• 2023-04-18- BL CMA CGM et OPAS UK