Groupe Eurotunnel: MyFerryLink: The SCOP SeaFrance placed in Judicial Administraton

Regulatory News:

Groupe Eurotunnel (Paris:GET):

The Commercial Court in Boulogne-sur-Mer has today placed the SCOP SeaFrance into Judicial Administration. The SCOP is now in the hands of court appointed Judicial Administrators. It is their responsibility now, working with DFDS, to define the conditions for the recruitment of staff¹. The Eurotunnel Group would like to confirm that the only contractual relationships existing between MyFerryLink and the SCOP SeaFrance were the operating contracts which expire at midnight on 1 July.

At the beginning of 2015, given the succession of decisions by the Competition and Markets Authority (CMA) and the Competition Appeal Tribunal (CAT) based on the principle that only two maritime operators should be present in the Channel market, the Eurotunnel Group put its maritime business up for sale.

The Eurotunnel Group confirms that it holds a binding offer from the DFDS Group for the purchase of the two ships, Berlioz and Rodin. To avoid any interruption to services from the port of Calais, the Eurotunnel Group will lease the Berlioz and the Rodin to DFDS from 1 July 2015.

Jacques Gounon, Chairman and Chief Executive Officer of Groupe Eurotunnel SE, stated: "Following the announcement of Judicial Administration, the priority is that contact is established between the SCOP SeaFrance and DFDS to discuss the issue of employment "

¹ 370 crew on 3 ferries and 160 shore based staff.

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