Dreyfus Bank

"In a dramatic turn, it is learned in the meantime that Bernard Arnault, CEO of Ferinel, signed an agreement with the brothers on November 14, subject to the cancellation of the previous commitments with CBSF. This new agreement provides a scheme relatively identical to the previous one. Bernard Arnault acquires 20% of the brothers' stake in SFFAW for 32.5 million francs, payable in seven years, interest-free. The remaining 80% are subject to a loan for use which provides him the benefit of a usufruct. The signatory is advised by Dreyfus Bank which has committed to assemble a group of investors likely to contribute 400 million francs in the capital increase of SFFAW."

"Michel Lefebvre, CEO of Ferinel, also emphasizes the need for progress in marketing and commercial policy, practices he has successfully implemented to ensure Ferinel's success in the leisure real estate sector. The listeners listen with curiosity to this young 35-year-old Polytechnician, who has just cut his teeth in the United States, full of vigor and fire, and who does not resemble the archetypal establishment bosses. The financial scope of Ferinel is indeed less significant than that of its competitors, but thanks to the sponsorship of Dreyfus Bank and Lazard Bank, Bernard Arnault, advised by Antoine Bernheim, is able to raise a round table of 400 million francs, with Ferinel's participation being only 100 million."