GROUPE EUROTUNNEL : Eurotunnel Chosen to Take over ex SeaFrance Assets
06/11/2012| 11:35am US/Eastern
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
"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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© Business Wire 2012