DP World intends to negotiate with the French company Bollory Logistics regarding its sale of potential assets for its logistics unit in Africa, in a deal estimated at $3.5 billion.
According to Arab Net, banking sources added that Dubai Ports is seeking to strengthen its business in Africa and buy the assets of Bollory Logistics, after a series of expansions announced by the company recently.
The sources added that the potential deal may include an alliance of Dubai Ports with other companies in order to win the deal, with indications of fierce competition to win the assets of the French company.
Early this month, DP World and Britain's CDC Group announced an agreement to jointly invest in transport and logistics infrastructure in Africa, with a total value of amounting to $1.72 billion.
According to sources, the French company has been hired by Morgan Stanley to advise on the potential sale of the assets.
France's Bollory Logistics assets are located in ports in 42 African countries.
The sources indicated that among the contenders to win the potential deal are the Danish company Maersk and the French company CMA CGM.
