Eurotunnel Chosen to Take over ex SeaFrance Assets
June 11 2012 - 11:30AM
Business Wire
Regulatory News:
The Paris Commercial Court decided, on Monday 11 June, to accept
the offer made by Eurotunnel (Paris:GET)(LSE:GETS) following the
administration of the SeaFrance group, announced on January 9
2012.
Groupe Eurotunnel offered €65 million to acquire three ships,
The Berlioz, The Rodin and The Nord-Pas-de-Calais, along with their
related assets. The acquisition will be made via an ad-hoc
financial vehicle owned by the group and named Eurotransmanche. It
will be open to the local authorities and will lease the ferries to
an operating company. This company, independent of Eurotunnel, will
be able to create 500 jobs in the Calais region and about a hundred
in the UK.
The ferries will need a technical overhaul before being brought
into commercial service, as SeaFrance was unable to complete
necessary maintenance work before being placed into
administration.
Jacques Gounon, Chairman and Chief Executive Officer of
Groupe Eurotunnel, stated:
“I am delighted that the pragmatic approach taken by Eurotunnel
has convinced the Commercial Court. This will aid economic
development and will further support the transport of people and
goods between the continent and Great Britain”.
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