the plan of fusion between the Harbour Authority of Ghent and the Dutch Zeeland Seaports



the Belgian port of Ghent and the Dutch ports of Vlissingen and Terneuzen could be places under an only harbour administration. The public society Ghent Port Company, that it manages the Belgian port of call, and Zeeland Seaports, the public society that manages the two Dutch ports of call, has announced the presentation to the respective shareholders of a fusion plan, operation that would happen guaranteeing a joint participation to the new harbour agency.

Based on the study on which the fusion plan is based, the value total of the capital stock of the joint venture new 50:50 would pile to approximately a billion of euro. After the fusion the capital of the new society would have to be subdivided between the Dutch province of the Zeeland, to which 25% of the capital, the Dutch communal administrations of Borsele (8.33% would go), Terneuzen (8.33%) and Vlissingen (8.33%), the Belgian communal administrations of Ghent (48.52%), Evergem (0.03%) and Zelzate (0.005%) and the Belgian province of the East Flanders, that it would have 1.444% of the capital.

the new called society to manage the ports would under construction have center in Holland and an office in the new building that it will accommodate the new center of the Ghent Port Company. Joint venture would be guided by two people, that is the current managing directors to the summit of the Ghent Port Company and Zeeland Seaports. The directive councils of the two harbour authorities would be replaced by a surveillance council constituted from four representatives of Dutch part and four of Belgian part and at least four of these members must not have political assignments. The current ones employee of the two harbour authorities would maintain their place of work.

the fusion plan previews that the two current harbour authorities are not suppressed but transformed in branches of joint venture and that, therefore, the flow of taxes generated from the activity of the ports meets however in the cases of the two States passing through the two harbour authorities.

Second the forecasts, the plan will be examined by the communal and provincial administrations involved in the next few months of October and November. For being approved of the plan it will have to at least obtain a majority pairs to 76% of the shareholders of the two parts; however the main shareholders will be able to decide to oppose to the performance of the initiative being exercised a veto.