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Published: 15 February 2011
Outlook looks bleak for SeaFrance
It looks as though SNCF will have to put the sale of its troubled SeaFrance ferry affiliate on the back burner again
SeaFrance went into receivership in June last year and in September SNCF Instructed Credit Agricole to find a buyer, after it obtained EU permission to inject E150M in emergency funding.
Vincent Launay, SeaFrance’s CEO, said that none of the four candidates had made suitable offers.
Their names have never been disclosed, but they are believed to be LD Lines, Brittany Ferries, DFDS and Veolia Transport (now part of Eurotunnel.
Launay added that SNCF would follow up with a recapitalisation, but for this a fresh application will need to be made to Brussels.