LD LINES withdraws its offer to take a majority stake in SEAFRANCE
After several months of discussions, at the request of SNCF, concerning the acquisition of a majority stake in SEAFRANCE by LD LINES, the uncertainty as for the real intentions of the seller has prompted LD LINES to withdraw its offer: the short time frame necessary to complete such an operation is not achievable any more.
The indication transmitted to the shareholder of SEAFRANCE on December 15th 2008, later confirmed by a binding offer on February 23rd, indeed proposed the creation of a “Large SeaFrance” combining the existing ferry services of SEAFRANCE with LD LINES’, head office of which would have been installed in Calais.
This newly-formed group would have operated under the SEAFRANCE name, creating an undeniable leader of the Channel market, able to face the current economic difficulties, to ensure its development and to safeguard several hundreds of jobs threatened by the social plan under consideration by the Management of the company. This true industrial project, in our view, was a guarantee for the future of the company and for the employment in the Nord/Pas-de-Calais Region.
The success of this project required obviously the adhesion of all stakeholders concerned. However, the opposition of the Unions, who expressed fierce objections without even knowing or asking to know the content of our offer, has contributed to give our project an unrealistic image.
Consequently, LD LINES has informed the management of SNCF of this decision to terminate our negotiations.
LD LINES deeply regrets that its industrial project could not be implemented within the required time frame. However, we sincerely hope that SNCF will find a suitable solution to ensure the future of SEAFRANCE, a leading French shipping company, as well as to safeguard the largest possible number of jobs.
LD LINES wishes to thank all those who have worked and supported us on this project.
Contact :
Mr. Pierre Gehanne, CEO.
Tel : +33 (0)1 7038 6116
Mail : pierre.gehanne@lda.fr
