In Marseille this Thursday, June 16, the commercial court has just signed the blocking of the proposed sale of La Provence
(La Provence, Corse-Presse)
.
Ruling on the summary proceedings filed by Xavier Niel, the Marseille commercial court temporarily suspended the approval given on May 9 to the sale of the press group to CMA-CGM.
The boss of Free and shareholder of La Provence up to 11%, disputed the fact that this approval had only been given by two votes out of five, since the representatives of his holding company NJJ as well as Stéphane Tapie, had been prevented from voting at the last minute.
To discover
Find all the results of the legislative elections
Taxes 2022: all about your tax return
Read alsoLa Provence: the showdown continues between Rodolphe Saadé and Xavier Niel
The examination on the merits of the file begins on June 29.
It could last several days or several weeks.
This situation thus plunges Provence into the deepest uncertainty.
Because in fact, the Bobigny commercial court, in charge of the file for the takeover of the 89% stake held by the Bernard Tapie Group (GBT) in La Provence, was supposed to officially rule on June 22 on the sale to CMA-CGM. .
However, after the temporary suspension of the approval, the judge of Bobigny should have no other choice, next Wednesday, than to pronounce a stay of proceedings or an extension of his deliberation.
What will then become of La Provence?
Several scenarios are emerging.
First, we will have to wait for the decision on the merits of the Marseilles court.
If the justice ruled in favor of Xavier Niel, the process of selling La Provence would then officially stop.
Conversely, if it decides that the approval is finally valid, the sale could resume under certain conditions.
“Everyone expects Xavier Niel to use all possible remedies, by appealing to the Court of Aix, then by going to cassation if necessary.
Which would then last several years
, ”comments someone close to the case.
Faced with this scenario, the 850 employees of La Provence, caught in a vice, try to remain optimistic.
"In view of our critical financial situation, we hope that the judge of Bobigny would choose despite everything to record the sale to CMA-CGM, without waiting for the outcome of the various procedures initiated by Xavier Niel",
explains a representative of La Provence.
For its part, CMA-CGM is also counting on this eventuality.
It has already been more than eight months since the battle between Xavier Niel and Rodolphe Saadé to get their hands on La Provence has been agitating the Marseille city.
The boss of CMA-CGM, determined to afford his first assets in the press, had not hesitated to put 81 million euros on the table for 89% of the capital, four times more than the estimated valuation.
A boon for the judicial liquidators, who seek to repay the State the debt of 400 million euros left by the late Bernard Tapie.
The shipowner also planned to invest tens of millions of euros to replenish the coffers of the press group.