The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Transportation / Storage Land, Water And Air Transportation Water Transport 50 - Water transport
150 - 200 jobs Number of planned job losses
Announcement Date
21 March 2006
Employment effect (start)
31 March 2006
Foreseen end date
31 March 2007
Description
In September 2005, the governments total privatisation plan for the Ferry traqnsporter SNCM ran into opposition from the unions. However another dispute brought them back together, between 20 September and mid-October 2005, following the governments announcement of the privatisation of the SNCM. Originally party to a plan to sell the entire company to an American investment group (Butler), the government ended up conceding an alternative way to distribute the SNCMs shares: Butler will get a 38% stake; Connex (a subsidiary of Veolia environnement) will take a 28% holding and will operate the business; the State will keep 25%; the employees will get 9% of the capital, which means that the last two together retain a veto (EIRO Ref: FR0602101N)
Sources
21 March 2006: Le Monde
Citation
Eurofound (2006), SNCM, Merger/Acquisition in France, factsheet number 63230, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/63230.
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