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Lota family exits Corsica Ferries

Vado Ligure - After long reflection, the majority of the historical shareholders of the Gruppo Corsica Sardinia Ferries decided to sell their majority stake and control over the company. Pierre Mattei proposed a buyout offer for the majority stake

Vado Ligure - After long reflection, the majority of the historical shareholders of the Gruppo Corsica Sardinia Ferries decided to sell their majority stake and control over the company.

In this context, Pierre Mattei, who has been President of Lota Maritime SA’s Executive Committee since 1999, and the company’s top managers, proposed, and the historical shareholders accepted, a buyout offer for the majority stake.

The buyout offer was put forward with the firm intent to maintain the level of employment at Corsica Sardinia Ferries, to develop traffic to Corsica, Sardinia and Elba and to preserve the company’s deeply Corsican roots.

The new shareholders, Pierre Mattei and the top management have the firm intention to continue the work of President Pascal Lota - who recently died - and his family, in order to guarantee the company’s independence and greatness, continuing to move forward with the principles that made Corsica Sardinia Ferries strong and are fully mobilised and personally involved in ensuring total continuity of management: “In just under 50 years, Corsica Sardinia Ferries has become a leading operator in maritime transport to Corsica, Sardinia and Elba. Today we value our responsibility as shareholders, as well, and it is important to us that the company maintain a leading position in Corsica’s and Europe’s economic scene, to guarantee the continuity and the future of its employees. With my partners, we are continuing the work that Pascal Lota began in 1968, to make Corsica Sardinia Ferries always innovative and successful,” Pierre Mattei, the President of Lota Maritime-Corsica Ferries SAS, stated.

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