French government considering options for 33.34% stake in Semmaris
The French government is understood to be considering options for its 33.34% stake in Semmaris, the French management company of the Rungis international fresh food market, French daily Le Figaro reported. The unsourced report said that five banks were asked last month to review options for the business and its value, as well to indentify potential buyers for the stake.
The report noted that listed French real estate group Altarea, which already owns 33% of Semmaris, would be interested in increasing its stake. Altarea acquired the shares for EUR 45m in 2007, pipping other contenders such as Unibail-Rodamco and CDC.
According to the report, the food professionals operating at Rungis, who control 10% of Semmaris, and the general council of the Val-de-Marne, which holds 5% of Semmaris, could be opposed to such a deal.
Semmaris reported net profits of EUR 13m on revenues of EUR 97m in 2013.
Source Le Figaro