Cyrille Bollore is to take over from his father Vincent at the head of French industrial group Bollore (ERIC PIERMONT)

Paris (AFP) – The son of French tycoon Vincent Bollore will replace his father at the head of his eponymous group, a statement said on Thursday, less than a year after he anointed another son as chairman of telecom firm Vivendi.

Cyrille Bollore will take over as chairman and chief executive of the investment group Bollore, the statement said.

His father told the board he would not try to renew his mandate as director, it added.

Vincent Bollore presides over a business empire with revenues of 18.3 billion euros ($22.4 billion) in 2017 and interests in everything from construction and logistics to media, advertising and agriculture.

The group is heavily invested in Africa, where it operates 10 container ports and has stakes in several others, as well as three railway concessions and interests in palm oil production.

Bollore’s empire began life in 1822 as a family-run manufacturer of paper for cigarettes and Bibles.

He revived its flagging fortunes after taking the helm in the early 1980s and embarked on a blitz of acquisitions, earning a reputation as a formidable businessman.

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