Four bids filed for SNCM

Marseille - Early this week, four bids were filed for the maritime transportation company SNCM at the Commercial Court of Marseille, which will examine them in a hearing on 25 September. The first bid is a joint offer from STEF and Baja Ferries, the second is from a consortium of Corsican companies, under the name Corsica Marittima (CM), the other two come from the former director of the port of Marseille, Christian Garin, and the Corsican Rocca group, which is active in the road haulage, real estate, and waste treatment sectors. STEF - the parent company of the French shipping company La Meridionale, which operated the public service delegation contract for territorial continuity between Corsica and the mainland – has teamed up with the Baja group, which according to early announcements was expected to make its own individual bid. Baja Ferries and STEF submitted two “joint and inseparable bids, [which] are meant to ensure a sustainable future for SNCM’s business on both its Corsican and Maghreb routes.” The two groups have announced that the company’s ships will continue to fly the French flag.

The bid is subject to approval by the Antitrust Authority, and recognition from Brussels that SNCM and the future company will be economically separate, to cancel the €400 million which the European Authorities have asked SNCM to return, since it was determined to have been wrongly received. The first part of the Baja Ferries and STEF project, as the two groups have explained, “offers three businesses, with the acquisition of SNCM: maritime services to Corsica; acting as general agent for various companies; and maintenance activities and ship maintenance.” Furthermore, 535 jobs are expected to be recovered, and the parent company of SNCM would consist of Unimed and STEF, each with a 40% stake, together with the Corsica road haulers with up to 20%. The second part of the project, which is being handled by Baja Ferries, concerns the business with The Maghreb, with 191 jobs created. As mentioned, the second offer comes from a consortium of 77 Corsican companies under the banner of Corsica Marittima (CM), which account for about 60% of goods transported between the island and the mainland.

According to French sources, CM now seems to be the most successful candidate. The project, led by the chief of the construction materials group Corsica Gedimat, Pierre Anchetti, is aiming to ensure the continued transportation of goods between Corsica and Marseille, a port which is considered the “island’s logistical hub.” CM is committed in particular to guaranteeing continuous service throughout the year, and we must not forget, the transport of passengers. The consortium consists of major construction companies, transportation companies, retail companies, and small and medium businesses. According to sources close to the dossier, the other project with roots in Corsica, from the Rocca Group, could make it to the second round with a joint offer from Baja Ferries and STEF, completing the panel of shareholders federated in STEF. The Commercial Court of Marseille has already rejected the preceding bids presented by STEF, Baja Ferries, Christian Garin and the Rocca Group. SNCM has been in temporary receivership since November 2014.