The Paris commercial court on Monday validated the takeover offer of the German steel group Saarstahl on the ailing French sites of Ascoval and Hayange, we learned from concordant sources.
Read also: How Bercy forced Gupta to sell Ascoval and Hayange
"The conciliation agreement has been approved by the Paris commercial court
,
"
a spokesperson for Saarstahl told AFP.
“We are delighted, it is a great satisfaction to be part of the Saarstahl group, which is nevertheless a heavy industrial group. We are almost certain that this will ensure the sustainability of the sites, ”
Gérard Glas, president of Liberty Rail Hayange (Moselle) told AFP, specifying that the deeds of sale will not be signed before Wednesday.
For Nacim Bardi, CGT delegate from Ascoval (North), this decision is a
"relief"
.
“We are very happy to be taken over by a European who knows the business, who has extensive experience in steel and metallurgy, they are real industrialists.
Now it's up to us to do the work and up to them to keep their commitments ”
.
"We hope that being taken over by such a group, of this scale, will allow us a certain stability, a steel group which is interested in us is a godsend"
, added Nicolas Lethellier, also CGT delegate of Ascoval .
The German steel group Saarstahl confirmed on July 2 the conclusion of an agreement in principle for the takeover of these two sites.
In search of funds
In May, Liberty Steel, owner for less than a year of the Ascoval steelworks in Saint-Saulve (North) and the Hayange rail plant (Moselle), announced that it was looking for buyers, due to financial difficulties. met by his boss, the British magnate Sanjeev Gupta, and his family holding company GFG Alliance. The group has been desperate for funds since the bankruptcy in March of financial firm Greensill Capital, its main creditor.
With 270 employees, Ascoval produces “blooms” (steel bars) for Hayange (430 employees), which manufactures steel rails then intended for the main European rail networks, in particular SNCF Réseau and RATP. Three groups, Saarstahl, ArcelorMittal and Beltrame had originally presented takeover offers, during a procedure managed by conciliator Marc Sénéchal. Founded in 1975, Ascoval presents itself, after 150 million investments in recent years, as
“one of the most modern and“ ecological ”steelworks in Europe”
.
