Wednesday, November 29, 2023

CAFOM withdraws its global offer for the acquisition of the CAIRE group. However, it will be part of the offers analyzed by the Court.

CAFOM withdraws its global offer for the acquisition of the CAIRE group. However, it will be part of the offers analyzed by the Court. CAFOM, the only one to offer a global takeover bid, was one of the potential buyers of the CAIRE Group. A perspective that, however, was not supported by a large part of the staff and, more specifically, the Guyana Community. A final condition that probably justified CAFOM’s decision to withdraw. A withdrawal, however, formulated too late for the Court to exclude CAFOM’s offer from its analysis.

E. Stimpfling • Published on September 28, 2023 at 12:07 pm, updated on September 28, 2023 at 1:30 pm

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The rumor had been circulating for 48 hours, initially denied by Guy-Alain Germond, director general of CAFOM, a rumor finally confirmed today by a letter addressed to the president of the Mixed Commercial Court of Pointe-à-Pître.

Gabinete Moncey, CAFOM advisor, confirms the withdrawal of the global recovery filed by the distribution group specialized in furniture. Withdrawal justified by the threat of Gabriel Serville, president of the Territorial Collective of Guyana, had in fact announced that he intended to denounce the public service delegation that linked the CTG to Air Guyane, if the CAFOM project was maintained.

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Lawyer Pierre-Alain Bouhénic writes that:

The elimination of this DSP means the disappearance of an essential element for the economic coherence of our project.

Pierre-Alain Bouhénic, lawyer at CAFOM

And the latter added a few lines beyond:

The strong opposition of the unions obviously complicates the conditions for a peaceful recovery.

Pierre-Alain Bouhénic, lawyer at CAFOM

. • ©Guadalupe I

Letter from Pierre-Alain Bouhénic • ©Guadalupe la 1ère

However, several judicial sources have confirmed this morning that, technically and legally, the withdrawal of the offer is not possible at this stage of the procedure.
Furthermore, the unfavorable opinions expressed by some during the September 21 hearing cannot in any way prejudge the final decision of the consular judges; Therefore, legally the latter always have the possibility of choosing between the three files presented or of deciding that none is capable of guaranteeing the continuity of air activity, which would lead to the pure and simple liquidation of the CAIRE Group.

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The final decision will be issued tomorrow, Friday, September 29, 2023 at the Courthouse of Pointe-à-Pître

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