The decision of the Commercial Court regarding a takeover by businessman Xavier Niel of France-Antilles was deliberated on March 17 but the Advocate General has already said he was favorable to this offer, said the administrator present at the hearing.
NJJ, Xavier Niel's personal holding company, proposed in early March to take over the only daily newspaper in Martinique, Guadeloupe and Guyana, which went into liquidation at the end of January. He plans to keep 126 of the 235 employees.
Towards a resumption on April 1
The mixed commercial court of Fort-de-France has already accepted the continuation of the administrative activity of the newspaper until April 1, date on which Xavier Niel indicated that he wished to take possession of the newspaper, according to the same source. The Advocate General found that the businessman's offer was "economically sound".
Xavier Niel had announced his intentions to take over the three editions of the daily newspaper after the deadline, after the liquidation of the newspaper. But on February 18, the commercial court had exceptionally decided to extend the group's activity until March 10, in order to allow the founder of Free and co-shareholder of Le Monde , who has just bought Nice-Matin, to do an offer.
Totally unexpected rebound this Tuesday, February 18. The commercial court of Fort-de-France pronounced the continuation of activity of France-Antilles until March 10, to allow a possible takeover offer to be filed, before March 2. .co / DnzIryaxRA
- France Antilles Gpe (@FAGuadeloupe) February 19, 2020Strengthening the digital offer
France-Antilles has ceased publication since February 1 and France-Guyana since January 25. NJJ undertakes in particular to take on 68 employees from France-Antilles Guadeloupe (out of 96), 34 employees from France-Antilles Martinique (out of 83), 6 employees from France-Guyana (out of 23), and 16 out of 31 employees from France- Antilles Guyane Management services (administrative and web part).
NJJ has indicated that it wants to keep a daily edition of the paper edition, but could reduce its pagination. In the West Indies, it plans to centralize printing in Guadeloupe and the transport of newspapers by boat or plane to Martinique. For Guyana, outsourcing of printing and distribution is envisaged, but the offer would only be digital at first.
Public funding in support
NJJ also wishes to strengthen the digital offer of the newspaper, but also to develop the group's event activity, through the organization of festivals or concerts. The project is estimated at 8 million euros. NJJ puts on the table 3.5 million, the rest coming from public funding (subsidies from the Ministry of Culture and "local authorities of Guadeloupe and Martinique") and a loan from the Economic and Social Development Fund.
Created in March 1964, France-Antilles, former subsidiary of the Hersant group, was in receivership since June 25, 2019.
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"France-Antilles": Xavier Niel improves its offer and proposes to take on 126 employees
- Xavier Niel
- West Indies
- Hurry
- Media