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With the release of Fimalac, the Barrière family alone at the head of its group

Fimalac will sell the 40% it holds in the Lucien Barrière hotel and casino group, leaving the Barrière family alone in charge of the company.

By IM with AFP

The Barrière family will hold the entire Lucien Barrière group after the departure of Fimalac.

I’announcement was made by a Fimalac spokeswoman to AFP, confirming information from Echoes : the holding company of billionaire Marc Ladreit de Lacharrière will sell the 40% it holds in the group of hotels and casinos Lucien Barrière to the Barrière family, which allows the latter to take full control of the company. A sale for around 325 million euros.

Fimalac had taken 40% of Groupe Lucien Barrière for 186 million euros in 2011, taking over most of the participation of the hotel group Accor, which itself had risen to the capital since 1989 (the family having bought the rest).

Asked by AFP, a spokesperson for the Lucien Barrière group declined to comment before Monday.

23 casinos, 19 hotels and 150 restaurants, including Fouquet’s

Succeeding their father Dominique Desseigne, Alexandre Barrière and his sister Joy Desseigne-Barrière will now own via their family holding – the Société de Participation Deauvillaise – 100% of the leading group of French casinos and a player in the luxury hotel industry.

According to a process validated in April, Dominique Desseigne must be appointed honorary chairman of the group, whilea general management will support this new organization ». He has led the family group since the death of his wife Diane in 2001, a few years after an accident that left her quadriplegic. The former CEO of Altice France and SFR Grégory Rabuel must become general manager, said a source familiar with the matter.

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Founded in 1912 in Deauville, the Barrière group has 32 casinos and a gaming club, 19 luxury hotels and more than 150 restaurants – including the famous Fouquet’s – and bars, 3 golf courses, and employs some 6,500 people. In 2022, its turnover reached 1.3 billion euros. In addition, the 10% held by Fimalac in Société Fermière du Casino Municipal de Cannes (SFCMC), the other company in the Barrière galaxy, will be sold within three months » to the family, the spokeswoman added.

A general meeting must validate the transaction

The sales agreement was signed on July 21 and a general meeting will have to validate the transaction, according to a press release from this listed company, of which the Desseigne-Barrière family currently holds 60.51% via the Société de Participation Deauvillaise. Joy Desseigne-Barrière was also elected president of the board of directors of the SFCMC to replace her father on Thursday, while Grégory Rabuel was appointed general manager, according to the press release.

READ ALSORuthless succession at the Barrière

Fimalac, the holding company of Marc Ladreit de Lacharrière, is involved with billionaire Daniel Kretinsky and the British fund Attestor, in a rescue project for the distributor Casino, in great difficulty. The holding company is also a 5% shareholder in the investment fund Warburg Pincus, owner of the French online media and entertainment heavyweight Webedia and active in the promotion of shows as well as in real estate. Fimalac is also involved in sponsorship and cultural action.

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