Ferinel

"He agrees to take over the management, but wishes to drop the public works part of its activity, to focus only on the real estate development part, which he considers more conducive to value creation. He surrounds himself with highly qualified executives: Michel Lefebvre, the "giant" of communication and sales, Hughes Motte, a highly skilled technician, Alain Dinin, as secretary-general, today the president of Nexity, Georges Pons, former lawyer and legal director, and finally, he benefits from the advice of Pierre Godé, at the time a lawyer at the Lille bar. Ferret-Savinel becomes Ferinel, specializing in holiday residences by the sea and in the mountains and in housing construction. In this context, he has business relations with Jean-Pierre Willot and his real estate service that are looking to enhance the industrial wastelands of BSF and transform them into building plots."

"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."

"The group of investors, apart from Ferinel (11.5%), includes the companies Elf and Total (12%), Worms et Cie (10%), the Lebanese-Syrian holding Finial (5%), Lazard Frères (10%), and the British financial institution Charterhouse (1%)."