The Nord Pas de Calais regional authority is ready to contribute around €10 million (US$13.5m) to the takeover bid for SeaFrance by a co-operative of the ferry operator’s workers, if the state and SNCF also pledge a financial commitment, ifw-net reports.
The co-operative is thought to require between €25-30 million in start-up capital.
“The council is ready to support a bid [for SeaFrance] which would retain its 880-strong workforce and its four vessels,” a council member explained.
Participation could take the form of a loan, at interest rates of between 7% and 8.5%, in order to respect EU regulations, or the acquisition of a vessel which would be leased back to the operator.
However, the investment going ahead is likely to depend on it being accompanied by “a significant contribution on the part of the French state and SeaFrance parent SNCF,” the council member said – adding that private investment was also required, at least equivalent to, the public sector contributions.
French Transport Minister Thierry Mariani met a delegation from SeaFrance’s CFDT union, which is piloting the workers co-op bid, at the weekend.
He described the council’s offer as “a positive point to be explored in the coming days.”
He called on SNCF, also state-run, to participate in the bid, while underlining the necessity of finding a private sector partner.
Mariani said he and the CFDT delegation had agreed to “exchange information on the bid and to try and find a partner” and would meet again at the end of the week. France’s finance ministry is also involved in the consultations.
On 16 November, the Paris commercial court ordered the liquidation of SeaFrance but allowed the company to continue trading until 28 January 2012.
The court judged that the two bids submitted for SeaFrance, one from DFDS and LD Lines and the other from the workers’ co-operative of SeaFrance workers, were both unsatisfactory. It said the financing of the co-op’s bid was “non-existent.”
The court left the door open to new offers to be submitted before 12 December.
DFDS and LD Lines have not indicated whether or not they will be making a new offer.
Meanwhile, the CFDT union has taken legal action against the ferry operator’s management’s decision to suspend SeaFrance’s services, which it views as an illegal lock-out. The case is due to be heard today.
The cross-Channel’s operator’s vessels remain in dock – the official explanation being that the safety of vessels, staff and property cannot be guaranteed.
The co-operative is thought to require between €25-30 million in start-up capital.
“The council is ready to support a bid [for SeaFrance] which would retain its 880-strong workforce and its four vessels,” a council member explained.
Participation could take the form of a loan, at interest rates of between 7% and 8.5%, in order to respect EU regulations, or the acquisition of a vessel which would be leased back to the operator.
However, the investment going ahead is likely to depend on it being accompanied by “a significant contribution on the part of the French state and SeaFrance parent SNCF,” the council member said – adding that private investment was also required, at least equivalent to, the public sector contributions.
French Transport Minister Thierry Mariani met a delegation from SeaFrance’s CFDT union, which is piloting the workers co-op bid, at the weekend.
He described the council’s offer as “a positive point to be explored in the coming days.”
He called on SNCF, also state-run, to participate in the bid, while underlining the necessity of finding a private sector partner.
Mariani said he and the CFDT delegation had agreed to “exchange information on the bid and to try and find a partner” and would meet again at the end of the week. France’s finance ministry is also involved in the consultations.
On 16 November, the Paris commercial court ordered the liquidation of SeaFrance but allowed the company to continue trading until 28 January 2012.
The court judged that the two bids submitted for SeaFrance, one from DFDS and LD Lines and the other from the workers’ co-operative of SeaFrance workers, were both unsatisfactory. It said the financing of the co-op’s bid was “non-existent.”
The court left the door open to new offers to be submitted before 12 December.
DFDS and LD Lines have not indicated whether or not they will be making a new offer.
Meanwhile, the CFDT union has taken legal action against the ferry operator’s management’s decision to suspend SeaFrance’s services, which it views as an illegal lock-out. The case is due to be heard today.
The cross-Channel’s operator’s vessels remain in dock – the official explanation being that the safety of vessels, staff and property cannot be guaranteed.