Baja makes move
US to Mexico ferry operator Baja Ferries is in talks to buy French ro-pax owner SNCM after Norway’s Siem Shipping pulled out.
The company could buy Transdev’s 66% stake in the Corsican operator.
"Our proposal for SNCM seems well accepted by Transdev and was presented to the government," the company told Reuters.
Transdev called the bidder a “serious candidate.”
Siem had been in talks about a possible takeover, but pulled out earlier this month.
A new buyer will have to find a solution to the European Union’s demand for EUR 440m ($605.5m) as a repayment of state aid for subsidised routes granted in previous years. The ruling is being appealed by France.
Transdev is controlled by Veolia and state-backed Caisse des Depots et Consignations. The French state has a further direct stake of 25% in SNCM - and workers have 9%.
The loss-making company runs eight ferries from the mainland to Corsica.
Baja Ferries also owns France's Unishipping and runs a Puerto Rico-Dominican Republic ferry line. Its Americas ferry operations have a turnover of $160m.