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The French wood merchant Rougier announced Thursday the sale of subsidiaries of its African branch in receivership in Cameroon and Central Africa, after the commercial court of Poitiers authorized such an operation.
"The court of Commerce of Poitiers authorized, during the hearing of July 13th, the whole process of sale in Cameroon of the Doumé Forestry and Industrial Society (SFID), the company Cambois, the company Sud Participation and in the Central African Republic of the company Rougier Sangha-Mbaéré (RSM) ", explained a communiqué of groupe.ro
The four companies, subsidiaries of Rougier Afrique International, were acquired by the Cameroonian company Sodinaf (New Distribution Company of Africa) for an undisclosed amount.
This operation allows the group to "rationalize" its portfolio of activities, justified Rougier, who estimates that he can "thus continue his recent Geographical rage in better conditions. "
Seizure of Rougier SA, the company's holding company, on March 12, the commercial court of Poitiers, in the center of France. placed in the procedure of safeguard and its African branch International in judicial recovery.
The group Rougier had then explained "to face persistent difficulties in Cameroun", evoking "the chronic engorgement" of the port of Douala – reason of its silting–, which "profoundly disrupted the activities of the Cameroonian, Congolese and Central African subsidiaries."
At the end of the hearing on July 13, the Commercial Court of Poitiers authorized the continuation of the period of Rougier SA and its Africa International branch, the statement added.
The group also recalls that the listing of its shares on the Paris Stock Exchange "is still suspended until further notice."
In 2016, Rougier bore a receivable of 8 million euros of VAT not reimbursed by Cameroon alone, and 15.6 million euros including receivables from Congo and Gabon. The 2017 turnover was down 7.5% on the 149.4 million euros of 2016.
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