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Provence: Rodolphe Saadé bets 81 million euros to bend Xavier Niel

2022-02-15T18:01:05.208Z


The Commercial Court of Bobigny, in charge of the takeover file of the Marseille press group, unveiled this Tuesday the offers of CMA-CGM and NJJ, the holding company of Xavier Niel.


The saga that has been agitating Marseille for five months has just had its first outcome.

On Tuesday, the Commercial Court of Bobigny, in charge of the judicial liquidation of the companies of Bernard Tapie, unveiled the offers of CMA-CGM and NJJ, the holding company of Xavier Niel, to take over the 89% of shares held by the deceased man. business in La Provence (La Provence, Corse-Presse).

Read also

Provence

: uncertainty reigns around the resumption of daily life

Determined to afford his first assets in the press, Rodolphe Saadé, owner of the Marseille maritime group, has put 81 million euros on the table.

Or double the valuation of La Provence, to try to bend the boss of Free.

He had himself made the trip to court on Tuesday.

"

We are proposing a real investment that will allow all the supports to develop and return to equilibrium by 2026

", comments the maritime group.

Beyond the purchase price, the group intends to invest 35 million euros, in particular to build a printing press in Marseille.

Right of first refusal

For his part, Xavier Niel, who already owns 11% of La Provence, is putting 20 million euros on the table.

The businessman, also a shareholder of the Nice-Matin Group, has chosen not to play the game of one-upmanship against Rodolphe Saadé, because he knows he can count on his right of pre-emption.

The latter indeed allows him to win La Provence in the end by aligning himself with the 81 million euros promised by CMA-CGM.

In a press release on Tuesday, NJJ reaffirmed its desire to buy the press group.

The employees of Provence and Corse Presse must be able to rely on a shareholder who is committed to the long term and has recognized experience in the field of the media

”, it is written.

The management of the La Provence Eurosud Pub group had also submitted a symbolic offer of one euro in order to be present at the hearing on Tuesday when the envelopes were opened.

Deadline July 4

In the coming days, the offers of Rodolphe Saadé and Xavier Niel will be presented to the CSE de La Provence.

Employees have a one-month consultation period, renewable once, to issue an advisory opinion.

During this period, both parties still have the opportunity to improve their offer.

We want to work with them to achieve the best-selling situation on the social side and guarantee the 850 jobs

, ”comments a staff representative.

According to the timetable for the tender procedure, a final decision must be taken by 4 July at the latest.


In the morning Tuesday, representatives of the employees of La Provence were received in the Senate, on the occasion of a round table of "

last minute

" within the framework of the commission of inquiry on the concentration in the media.

Employees are also worried that this takeover file will get bogged down in multiple legal proceedings.

Next month, the Aix-en-Provence Court of Appeal is due to rule on the decision of the Commercial Court of Marseille, rendered on January 11.

The judge of the Marseille city had decided to suspend the “

right of approval

” of Xavier Niel, which offered him a right of veto on the entry of a new shareholder in the capital of La Provence.

Source: lefigaro

All life articles on 2022-02-15

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