Stay up to date
Subscribe to DirectFerries email
Loading...
Invalid Email
You have been added to the directferries.co.uk mailing list.
The email address entered already exists

SNCM heads for the private sector

Date: 01 Jun 2006 00:00 Source: Lloyds List

State-controlled French Mediterranean ferry operator SNCM is set to pass into private sector control today following yesterday’s approval by the European Commission of its proposed takeover by Butler Capital Partners and Veolia Transport, writes Andrew Spurrier in Paris .

The company’s existing board is due to approve the takeover, which has just been authorised by French government decree, at a meeting this morning and an SNCM spokesman said the new management team would be taking control immediately afterwards.

Operational management will be in the hands of Veolia Transport, which will have a 28% stake in SNCM alongside investment company Butler Capital Partners, which will be leading shareholder with 38%.

Veolia has already made clear, however, that it expects to become the majority shareholder in the company, notably via the expected withdrawal of Butler Capital Partners after five years.

Gérard Couturier, formerly regional director of Veolia Transport, is to become head of SNCM’s new management board, replacing existing chief executive and former head of the port of Dunkirk authority Bruno Vergobbi.

The French state is to keep a 25% stake in SNCM’s capital, while the company’s employees have been allocated 9%.

More Ferry News from directferries.co.uk

Dover - France short breaks from just £19 one way!
Date: 21 November 2014 Source: DFDS Seaways, P&O Ferries & MyFerryLink

Enjoy a short break to France from just £38 return when you travel with DFDS Seaways, P&O Ferries or MyFerryLink this winter!

Get 10% off Holland ferries this Christmas, travel from 15th December!
Date: 11 November 2014 Source: Stena Line

If you’re planning a trip to Holland this Christmas then make sure to take advantage of our great Christmas offer saving you 10% on ferries to Hook of Holland with Stena Line!

Fares to Ireland & Northern Ireland from just £69 each way!
Date: 14 October 2014 Source: Stena Line

Travel to Ireland or Northern Ireland with Stena Line from just £69 each way when you book with directferries.co.uk!

Spend up to 29 hours in France from £24 per person
Date: 12 October 2014

With this special day trip offer from Brittany Ferries choose to sail from Portsmouth, Poole or Plymouth to Caen, Cherbourg, St Malo, Le Havre or Roscoff and spend up to 29 hours abroad.

Save 30% on ferries between Italy and Greece this year!
Date: 10 October 2014 Source: Superfast Ferries & Anek Lines

Take the ferry between Italy and Greece this year with Superfast Ferries or Anek Lines and save 30% on your ferry ticket when you book with directferries.co.uk this autumn!

Crossings to Normandy from just £39 each way with DFDS!
Date: 24 September 2014 Source: DFDS Seaways

Sail directly to the heart of Normandy with DFDS Seaways from just £39 each way when you book with directferries.co.uk!

Travel to Dublin from just £59 each way with P&O Ferries!
Date: 08 July 2014 Source: P&O Ferries

Travel from Liverpool to Dublin with P&O Ferries from just £59 each way when you travel by car.

Take your car or motorcycle free with Grimaldi Lines!
Date: 06 May 2014 Source: Grimaldi Lines

This year you can take your car or motorcycle for FREE when you travel between Spain – Sardinia/Italy or Italy – Sardinia with Grimaldi Lines!

20% off ferries to Amsterdam - return within 5 days!
Date: 07 April 2014 Source: DFDS Seaways

Travel with DFDS Seaways on a ferry to Holland with your car and return within 5 days to save 20% on the ticket price.

New Portsmouth Le Havre économie service from just £79
Date: 14 March 2014 Source: Brittany Ferries

Brittany Ferries have started a new no-frills service called économie on the Portsmouth Le Havre route with fares from just £79 each way for a car and 2 passengers.

© Direct Ferries Ltd