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Parlamentary inquiry on the privatization of Tirrenia
Laboccetta (PdL): if the purchase price is inferior to 380 million, “we would be in presence of a heavy opaque operation”
July 13, 2012
The group of Popolo of the Freedom to the Chamber has introduced a destined urgent interrogation to the ministries of the Economy and Finances, the economic Development and Infrastructures and the transports in which it asks the government to reexamine the terms of the privatization of the company of Tirrenia navigation with its acquisition from Italian Company of Navigation (CIN) let alone on the cession of the regional companies of navigation of the former Tirrenia group.
Nell'interpellanza, with first Amedeo Laboccetta signer, finds that the process of privatization of the former companies Tirrenia is proceeding with difficulty and is still object of investigations from part from the European Union for how much it concerns contributions distributed in the passed years, than Tirrenia Spa and the Siremar Spa is in controlled administration and for a long time the procedures for their privatization are on, than the societies Saremar, Caremar and Laziomar they are regionalized but in reference to they infraction procedure, the n is on. 4609/2007, from the EU commission that, in last the 22 slid june, a motivated opinion has turned to Italy having granted the term two-month-old for the adaptation to the communitarian norm representing that the services of marine cabotage were transferred and adjudicated without to appeal to competitive procedures, than the procedures of award of contracts of public service already in head to Toremar Spa instead they are carried out by 5 the Tuscany Region that May 2011 has entrusted the public service to Moby Lines Spa with determining itself - it is evidenced in the interpellation of a singular situation: “the Moby Lines who already controlled a market share of approximately 50%, with the award of the services already in head to the public society - the signers emphasize - finds again itself in the monopolist position, with obvious fallen back in the tariff within and of the interests of the isolani customers”.
Nell'interpellanza is emphasized moreover that Tirrenia Spa is about to be assigned definitively to the CIN, of which the same Moby Lines is industrial associate, that he has to its summit like managing director Ettore Morace and from the whose social compages have exited two main shareholders Grimaldi Naples and Aponte Group who are replaced by other associates. The price for the acquisition of Tirrenia - the deputies observe - “would be corresponded with following the favorable modalities: 200 million euros to the delivery of the society, 180 million euros paid in instalments in several annuities without interests, the all conditioned one to the obtaining of total 570 million euros of state contributions in the arc of next the eight years; according to how much it turns out to consulting - one evidences in the introduced action the government - the operation would happen without specific concrete guarantees if not a generic reference to the solidity of the groups that have constituted society CIN originally, created vehicle, to warning of consulting, purposely for the contest and of which they are not more part, like approval, the main industrial associates; the guarantees cited for the acquisition of Tirrenia Spa would turn out, to warning of consulting, more evanescent as besides already said exited from CIN of the two main groups, Grimaldi and Aponte, the control united to Hourglass would have parted the Moby, bottom that stops an important participation in the same Moby, without it is proceeded to integration of adapted fideiussorie guarantees attended the which cruised control”.
“It cannot be sottacere - the interpellation continues - than in August of 2010, the Holding Mediterranean Society of Spa Navigation, turned out winner of regulating ban before the sottoposizione to administration controlled of Tirrenia Spa, had offered in order to find the company the sum of 640 million euros; the Holding Mediterranean offer of Navigation spa, to warning of consulting, had the virtue to find Tirrenia Spa and its controlled Siremar Spa like companies in activity and therefore with guarantee total for creditors, debtors and navigating and administrative staff and not like society subordinates to the commissariamento, like instead repentinamente happened the successive day to the lacked allocation the Mediterranean contest”.
Consulting has remembered moreover that the family Morace owner of a shipping company currently controls 50% of the market of the traffic with the smaller islands of the Sicily and, united the Franza shipowner, entirely controls the marine services that interest the strait of Messina, and both the shipowners moreover are also involved in the acquisition of the Siremar di Navigazione Spa in extraordinary administration. According to consulting, these shipowners “would have offered to the Sicilian Region to participate directly to the network from they set foot in order to participate to the contest for the privatization of the branch of company Siremar Spa offering a clearly inferior amount to that offered from Company of the Islands Spa, society this composed one from local operators as well as from the Lauro group, and participated, like wide advertized, also from the same Sicilian Region, this last one with the single role of guarantor of the shipowning activity, is in terms of services that of rates applied in confront of the customers all, and in particular of the residents in the islands, than of i occupational levels relatively to the navigating and administrative staff”. “The offer introduced from the indicated societies over, as well as to be inferior in value to that of Company of the Islands Spa (Cdl) - the interpellation continues - would not be assisted by bank guarantees but by an affirmation of solidity of the associates, contrarily Company of the Spa Islands that has introduced suitable fideiussorie guarantees”.
Illustrating in classroom the interpellation, Amedeo Laboccetta has specified that the interest of the signers is face also “to know the reason for which has been allowed to vary the members of the social compages of CIN Spa, chosen like cessionaria of the branch of company of Tirrenia, in spite of the rules previewed the immodificabilità, in the successive phase to the presentation, of definitive the binding offer. Obviously such anomaly - it has emphasized the parliamentarian - has strongly damaged, and the government will have to understand it and to recognize it, other competitors who sure, if facoltizzati to widen own compages, could very have continued in the contest”.
Answering to the urgent interpellation, the cultural State undersecretary for the Assets and activities, Roberto Cecchi, it has travelled over again the phases of the procedure of privatization of Tirrenia and has remembered that slid the Guarantor Authority of the Competition and the Market has closed positively the preliminary investigation on the acquisition of the company from CIN having conditioned the authorization to the respect of the engagements proposed from the same Italian Company of Navigation. “The buying society - it has specified the undersecretary - has while obtained necessary the bank deliberations to the improvement of the operation second the new configuration of the social order, and it has been declared available to finalize the purchase to the opportunely agreed conditions, asking a partial modification for the modalities of payment of the fee in consideration of the incidence on its contained business plan of the prescription in the decision of the Antitrust. Al moment - it has specified Cecchi - is waiting for to know the outcome of the verifications in course between the parts”.
“With reference to represented how much in the interpellation with respect to the allegated position of monopoly that would come itself to create for effect of the cession to the Italian Company Navigation - it has continued the undersecretary - the ministry of the economic Development has specified that the Italian Authority antitrust has been expressed favorably with respect to the operation of cession of Tirrenia, imposing a prescription series times to exceed the profiles of criticalities found under the competitive profile”.
“As for allegated smaller the vantaggiosità of the offer of the Italian Company Navigation respect to other offer introduced from the Holding Mediterranean society, before the sottoposizione of the society to extraordinary administration - Cecchi has still said - the ministry of the economic Development has mentioned that the only offer introduced in outcome to the contest ban has been that of the Italian Company Navigation and that the same one is formulated for a value online with the skill written up from an independent valutatore. Approximately the lacked award to the Holding Mediterranean society, before the opening of the procedure of extraordinary administration, of which signal in the interpellation is made - it has added the undersecretary - is mentioned that, in the within of the procedure of privatization started from shareholder Fintecna in the course of 2010, the sale has not been realized as the potential purchaser, Holding Mediterranean, has not reached, like demanded from the lex specialis of contest, the indispensable financial agreements for the definition of the debt positions in confront of the bank system and for the performance of the industrial plan. The same society has manifested interest in the within of the new procedure of sale started from the extraordinary commissioner, but then it has been withdrawn from the contest procedure”.
Nella retort the first Laboccetta signer has observed among other things that, “if had to turn out true, as more and more insistent voices support, than the price for the operation would be inferior to 380 million euros, against the value that the same administrator of CIN has displayed to be of beyond 450 million euros, then would be in presence of a heavy opaque operation. This value would be paid with 135 million euros to closing - therefore, at the close of the operation - 55 million to the fourth year, 60 million to the sixth year and 65 million to the eighth year. The deferred part, pairs to 180 million euros, would be financed to rate zero from Tirrenia, without some guarantee in exchange. Indeed, the guarantee is granted by the State with the signature of the convention, assuring to the new company 72 million euros annual for eight years”. “The parasociali agreements between Hourglass, Moby and the two new associates, seem to me are Black persons of Livorno and Izzo in the field naval preparations of Naples, in a position of wide minority - it has continued Laboccetta - do not assure, then, an adapted competition in the field. This in particular for the Sardinia, the strong pressure, evidently independent, of Moby. In particular, the marine pertaining are to the Tirrenia that to the same Moby could also risk their place of work and are this our the true and strong worry. I know that in these hours also the labor organizations are deepening the situation and therefore we will deepen it with all how many”.
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