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Gare du Nord: an unexpected failure for Ceetrus, the Auchan property company

2021-09-22T21:12:51.093Z

The ambitious Ceetrus suffered a heavy blow with the abandonment of the project due to accusations of failure to meet costs and deadlines.



The pill is necessarily difficult to swallow for Ceetrus, the real estate company which was a 66% shareholder in StatioNord, the company in charge of renovating the Gare du Nord.

As proof, the company, a real estate subsidiary of the Auchan group, usually very discreet, cracked a press release highlighting

"the obvious failings of its partner,

SNCF

, in its responsibilities as co-shareholder and in the loyalty required between partners"

.

He also insisted on the fact that the public company, a 34% shareholder in the capital of StatioNord, was involved in all decisions.

See also

Gare du Nord: the flop of the construction site of the century

Nevertheless: the abandonment of the project on charges of non-compliance with costs and deadlines is difficult to cash for a real estate operator with Ceetrus's ambitions.

Especially since this is not the first failure for the northern company, which was also the expected operator for the large Europacity complex.

This project worth more than 3 billion euros bringing together businesses,

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Source: lefigaro

All business articles on 2021-09-22

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