SeaFrance up for sale?

Blimey, it's all kicking off in the channel as the bids and counter-bids are coming in for SeaFrance. It looks like Brittany Ferries is the latest suitor. Although from the tone of this release from LD Lines, agreeing a price is only the first step in securing the deal. I'll keep you posted on any further developments...

LD LINES WITHDRAWS SEAFRANCE BID
After several months of discussion, at the request of SNCF, concerning the acquisition of a majority stake in SeaFrance by LD Lines, the uncertainty as to the real intentions of the seller has prompted LD Lines to withdraw its offer : the short time frame necessary to complete such an operation is no longer achievable.
The indication transmitted to the shareholder of SeaFrance on 15th December 2008, later confirmed by a binding offer on 23rd February 2009, proposed the creation of a "Large SeaFrance", combining the existing ferry services of SeaFrance with LD Lines, the head-office of which would have been installed in Calais.
This newly-formed group would have operated under the SeaFrance name, creating an undeniable leader of the Channel market, able to face the current economic difficulties, to ensure its development and to safeguard several hundreds of jobs threatened by the social plan under consideration by the Management of the company. This true industrial project, in LD Lines' view, was a guarantee for the future of the company and for the employment in the Nord / Pas de Calais region.
The success of this project required obviously the support and agreement of all stakeholders concerned. However, the opposition of the Unions, who expressed fierce objections without even knowing or asking to know the content of LD Lines' offer, has contributed to give the project an unrealistic impression.
Consequently, LD Lines has informed the management of SNCF of this decision to terminate negotiations.
LD Lines deeply regrets that its industrial project could not be implemented within the required time frame. However, the company sincerely hopes that SNCF will find a suitable solution to ensure the future of SeaFrance, a leading French shipping company, as well as to safeguard the largest possible number of jobs.