Published on : 25/05/2022 – 21:34
Marseilles (AFP) – The legal soap opera opposing Xavier Niel to CMA CGM for the takeover of La Provence continues with a request filed by the founder of Free who contests the validation by the board of directors of the newspaper of the Marseille shipowner’s offer.
This offer to take over 89% of the shares of the Bernard Tapie Group (GBT), in compulsory liquidation since 2020, in La Provence, had been the only one retained by the liquidators, because it was the best bidder. CMA CGM had put 81 million euros on the table, once morest “around” 20 million for the holding company of Xavier Niel, NJJ, which is already a minority shareholder of the daily up to 11%.
“We have launched a procedure in which we are asking for an interim suspension of the decision of the board of directors of May 9, until a review on the merits where we are asking for its cancellation”, explained to AFP Me Christian Lestournelle. , NJJ’s Marseille lawyer, confirming information from Letter A.
On May 9, the board had approved the takeover offer from shipowner CMA CGM, deeming the two votes once morest from Avenir Développement, a subsidiary of NJJ, inadmissible.
On paper, the minority shareholder has a right of veto once morest any new entrant, but he too had been challenged in court by the judicial liquidator.
The Aix-en-Provence Court of Appeal had finally restored this right of veto, while arguing that there was “indisputably” a “conflict of interest” for Avenir Développement, both a candidate for the takeover de La Provence and holder of a right of veto once morest any new entrant. Argument on which the Chairman of the Board relied.
An analysis that does not share Xavier Niel who had denounced by the voice of NJJ a “passage in force”.
If Xavier Niel “has the time for legal extremism to satisfy his desires, La Provence, Corse Matin, the 850 employees of the group and the health of the six companies that make up the latter, they no longer have the time to these procedures which endanger their future”, annoyed the inter-union FO-CGT of the two daily newspapers in a press release.
The transfer was to be examined by the Bobigny commercial court on June 7, according to the unions. Will this new procedure delay this decisive hearing?
Contacted by AFP, CMA CGM declined to comment.
© 2022 AFP
