Xavier Niel’s takeover offer has been examined by the legal administrator and the group’s unions. 114 employees would be taken over, including 48 in Martinique, 60 in Guadeloupe and 6 in Guyana. The printing works would be relocated to Guadeloupe.
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Posted on March 2, 2020 at 5:32 p.m., updated on March 2, 2020 at 19:38
If its takeover offer is accepted, NJJ, Xavier Niel’s personal holding company, plans to take on 114 group employees out of the 235 people who were employed by the France-Antilles group (Martinique, Guadeloupe, Guyana).
This proposal will be carefully examined by the different parties (court administrator, unions and group employees), but already, the liquidator and the unions want a social offer reviewed and corrected. Namely a takeover of more than 114 employees. A minimum of 125 employees.
The project also provides for a resumption of activities in France-Antilles on April 1, 2020. The administrator requests that it be considered on March 15.
NJJ wants to keep a daily edition of the paper edition in Martinique and Guadeloupe, but could reduce its pagination.
A digital edition would cover Guyana.
The selling price of the daily newspaper offered in this recovery would be € 1 30 cts, an increase of € 10 cts compared to the previous price.
The printing works would be relocated to Guadeloupe
In total, NJJ estimates the budget necessary to revive France-Antilles at 8 million euros. The State should participate up to 3.5 million euros via the CIRI (Interministerial Committee for Industrial Restructuring), the Bercy unit which supports companies in difficulty.
This proposal will be carefully examined by the different parties (court administrator, unions and group employees), but already, the liquidator and the unions want a social offer reviewed and corrected. Namely a takeover of more than 114 employees.
The project also provides for a resumption of activities in France-Antilles on April 1, 2020. The administrator requests that it be considered on March 15.
In total, NJJ estimates the budget necessary to revive France-Antilles at 8 million euros. The State should participate up to 3.5 million euros via the CIRI (Interministerial Committee for Industrial Restructuring), the Bercy unit which supports companies in difficulty.
The newspaper’s digital offer would be reinforced and additional activities would be developed as “the group’s event activity, through the organization of festivals or concerts”, the daily Les Echos said on February 28, 2020.
Xavier Niel’s holding company has until midnight March 5 to present another offer, taking into account the comments of the administrator and the unions.
The commercial court will render its decision on March 10 at 2 p.m.
Xavier Niel, boss of the Iliad group (Free), co-shareholder of Le Monde, L’Obs and very recent buyer of the Nice-Matin group and the daily unions.
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