DFDS & LDA bid for SeaFrance
DFDS and Louis Dreyfus Armateurs (parent group of LD Lines) announced this week that they have launched a joint bit to purchase certain assets of SeaFrance. SeaFrance have been in receivership since June 2010 and the bid is in response to the appointed receiver requesting bids to be made by 26 July 2011. SeaFrance has been protected from bankruptcy under French Administration laws. This bankruptcy protection is due to expire on 28 October 2011.
If the bid is successful DFDS and LDA will form a jointly owned company, with DFDS as majority shareholder. The intentions of this new company will be to initially acquire the assets of SeaFrance, and then transfer the DFDS Dover – Dunkerque and the LD Lines activities to the joint company.
It is not yet clear which assets of Sea France are subject of the bid and the value of the bid has not been disclosed.
DFDS have stated that, “the participation in the bid, and cooperation with Louis Dreyfus Armateurs Group, reflects DFDS’ strategy of building a European integrated shipping and logistics network”.
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