A new twist in the Fibre Excellence case. A new investor has come forward?one serious enough that the Toulouse Commercial Court has postponed the hearing on the pulp producer?s future until July 6. According to several sources close to the case cited by AFP, this investor is Matthieu Pigasse. The financier and investment banker has submitted a letter of intent in his personal capacity.
Matthieu Pigasse is best known for his work in finance and the media. Through his holding company, Combat Media, he owns, among other things, the music magazine *Les Inrockuptibles* and Radio Nova. He also holds stakes in the *Le Monde* group, Mediawan, and several music festivals, including Rock en Seine.
For Fibre Excellence, which did not reveal its identity in the press release issued following the hearing on June 16, the arrival of this " "renowned French investor" would allow "to consider consolidating the current takeover proposal put forward by Fibre Excellence's management or the possible submission of a new offer."
In the absence of an identified buyer, Fibre Excellence's management submitted its own takeover bid on June 1 . Led by Jean-François Guillot, the group?s chairman and CEO, the project?which involves both private investors and public entities?covers all of the group?s assets, including the plants in Tarascon (Bouches-du-Rhône), Saint-Gaudens (Haute-Garonne), and Chapelle Darblay (Seine-Maritime). The offer provides for the retention of the group?s 700 employees.
The offer submitted by management remains subject to three conditions deemed essential for restoring the group?s competitiveness. The first concerns the feed-in tariff for electricity generated by the sites? biomass power plants. The second relates to securing a portion of the wood supply, and finally, management is requesting that the Saint-Gaudens plant be reintegrated into the European carbon quota system.
The management team states that it will continue its work on the currently proposed takeover plan and ensure its successful completion for all employees, suppliers, and the entire wood and paper industry in France. It also welcomes "the mobilization of French investors willing to commit to France's industrial sovereignty" .
