Skip to content
CMA-CGM brings 25 M € to Brittany Ferries – Economy

10 million euros in the form of bonds convertible into shares and a loan of 15 million euros repayable over eight years: Brittany Ferries has just signed a partnership synonymous with breath of fresh air. Since autumn 2019, long before the Minister of the Economy mandated the Interministerial Committee for Industrial Restructuring (Ciri), the shipping company, based in Roscoff (29), had considered it necessary to consolidate its own funds to finance modernization. of its fleet and the piggyback project between Cherbourg and Bayonne.

While it only represents 20% of the € 50 million to be raised, this partnership calls for others. The agreement signed with CMA-CGM, one of the world leaders in containerized maritime transport, also confirms the leaders of the Roscovite company in their decisions. “The first French shipping group and the third internationally validates Brittany Ferries’ business plan”, welcomes Jean-Marc Roué, the chairman of the company’s supervisory board.

La Sica keeps control

The partnership is an agreement of choice for the Breton company and its historic shareholder. La Sica keeps control. An issue heard by CMA-CGM. It is in this context that Rodolphe Saadé, the CEO of the maritime group, decided to participate in convertible bonds without voting rights at the general meeting, even if a CMA-CGM manager will participate in the supervisory board of Brittany. Ferries. A pledge of maintaining the economic and social model which, for Jean-Marc Roué, “involves maintaining the historic shareholders. “

Beyond the solidarity of the French flag, which should be reinforced by the announcements expected from the President of the Republic – this Tuesday at the Assises de la Mer, in Nice – on the reimbursement of salary costs and support for investments, the two companies will be able to forge partnerships. Particularly in the field of freight transport through new capacities between Spain and the United Kingdom.

2022 “very well oriented

The second subject of rapprochement is the vision shared by the two shipping lines of cleaner maritime transport, using LNG. After entering the Galicia fleet for the first time in 2020, four new “clean” vessels, a pillar of the company’s recovery plan, are expected from next year, including two LNG hybrids.

Brittany Ferries thus sees its horizon clearer, reinforced by reservations for 2022 “very well oriented” and a “significantly positive” cash flow thanks to “the EMP signed with the banks” and short-time working, after a new season strongly marked by the health crisis.

letelegramme Fr Trans