The board of French national rail operator SNCF has approved the sale of itsloss-making express parcels subsidiary Sernam to the company’s management led by managing directorPhilippe Chevalier. SNCF said the deal, for an undisclosed sum, should be concluded in the autumn.No other bids for Sernam were received. SNCF stressed that it had completely respected the decisionof the European Commission by conducting an open and non-discriminatory sale process.
SNCF said the management takeover would enable the express parcels firm tocontinue its business activities and safeguard jobs. Sernam would continue to transport parcels onSNCF’s night-time express trains on a non-exclusive basis. It also aimed to conclude newpartnerships with other operators in the express, parcels and logistics sectors both at a nationaland European level. Sernam is a member of the Euroexpress network.
