MyFerryLink prohibited from operating in Dover: Groupe Eurotunnel seeks buyer for its ferry business
Groupe Eurotunnel acquired the assets of the defunct company, SeaFrance, in June 2012 following an open and public process.
Groupe Eurotunnel subcontracted the operation of the ferries Rodin, Berlioz and Nord-Pas-de-Calais to an independent company, the SCOP SeaFrance.
Operations began on 20 August 2012 and in 2014, MyFerryLink, the maritime business owned by the Group achieved its objectives with close to 400,000 trucks and 350,000 cars transported.
The Competition Appeal Tribunal (CAT) recognized the validity of the case put forward by the Group and, independently, by the SCOP but decided that these were not sufficient to overturn again the decision taken by the Competition and Markets Authority (CMA), published on 18 September. This decision is illogical. It reduces competition across the short straits and it is contrary to the interests of free trade. The CAT is forcing Groupe Eurotunnel to withdraw from this activity.
Groupe Eurotunnel is proud to have created a competitive and respected cross-Channel ferry brand in just two and a half years and with no support whatsoever. Groupe Eurotunnel congratulates the SCOP, its management and staff for their professionalism and the quality of their service.
In view of the requirement to cease operations within six months, which has been confirmed, and to realise the value of the work achieved Groupe Eurotunnel will now seek a buyer for MyFerryLink.
Jacques Gounon, Chairman and Chief Executive Officer of Groupe Eurotunnel stated:
“MyFerryLink is an operating and commercial success. We are proud to have succeeded where so many others have failed. Given the position of the British authorities, the future of MyFerryLink will now be determined outside the Group”.