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Published: 11 June 2012      

Eurotunnel to get SeaFrance nod

According to report in French daily Le Figaro, Channel tunnel operator Eurotunnel will be given the green light today to buy the three ferries owned by failed cross channel ferry operator SeaFrance.

Eurotunnel will lease the three ships - Berlioz , Rodin and Nord-Pas-de-Calais - to a workers’ cooperative (SCOP - Société Coopérative et Participative) made up of 500 former SeaFrance employees. The line’s Dover-Calais services, which were suspended in mid-November 2011, could resume as early as this summer, the report said.

SeaFrance was put into administration in January after a bid by a consortium of DFDS and Louis Dreyfus to buy some of the company’s assets, including two of the ships, fell through. Swedish operator Stena Line also made a €30M bid for the Rodin. The three vessels were valued at €150-180M.

In the event, the Paris Commercial Court will give the nod to Eurotunnel’s offer of €65M for the three vessels and their related assets, the Le Figaro report said.

The acquisition will be made via Eurotransmanche, an ad-hoc financial vehicle owned by Eurotunnel.


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