Bollore Africa Logistics acquires 49 % stake in Indian container terminal
Bolloré Africa Logistics, a leading operator of public-private partnerships in the port and rail sectors, has made its first investment in an Indian terminal by acquiring a 49% stake in ABG Container Handling, which is transforming a berth at V.O. Chidambaranar Port into a container terminal.
The magazine Port Finance International reports that the French conglomerate has bought 7 million equity shares of ABG Container Handling for R48.64 Cr (US$7.5 million).
ABG Ports holds now 51% and Bolloré Africa Logistics (BAL) 49% of ABG Container Handling, which in turn controls 100% of Dakshin Bharat Gateway Terminal, a BOT vehicle with a 30-year concession to develop Berth No. 8 at V O Chidambaranar Port Trust.
Last year, in August 2012, ABG Container won a 30-year concession to carry out the project. The company had offered a revenue share of 55.19% to the Port Trust.
Bolloré Africa Logistics is involved in 15 ports in Africa, including 12 container terminals.
