In Biscay the financier is less ambitious

Guy Wyser-Pratte launches in a new battle. After failing to join the Supervisory Board of the Lagardère Group, the shareholder-activist Franco-American opens two new fronts: electricity and water of Madagascar (des), and Biscay. The financial comes to 10 of the capital of des and, true to his reputation for Maverick, account not be a dormant shareholder.

Its objective Help promote this disparate assets holding company, worth according to him some 25 euros per share, while the title was closed yesterday at 15.38 EUR. Its means Yet governance. "Des has made a beautiful dedication in selling the hotels to the Viet Nam and the perimeter is now reduced, says Guy Wyser-Pratte." The company has more need of two Presidents. Francois Gontier is smart, but this is not him who managed the redesign of the assets. I will seek a position on the Board of Directors and wishes to appoint the current Director General, Frédéric Doulcet, to the position of CEO.

A Board of Directors of EMM must be held on 24 September. Strategy, it could go through a total abandonment of the hospitality sector. After removing 45 million (EUR 35.4 million) from the sale of Vietnamese establishments, the hotel of Angkor, Cambodia, may also be assigned. It would be $ 15 million.

In Biscay, the financier is less ambitious. Guy Wyser-Pratte has acquired 2 of the capital of the French specialist of the wood, paper and packaging, and has to stop there for now. "I don't want to cross threshold." Gascony is one of the major assets of EEM and his boss can remain in place, but need better to communicate on the real value of the company, which today rating its revalued net assets half. "If I go up to the Board of des, I voice", details the investor. EEM is indeed the first shareholder of Biscay, with 27 of the capital.

Negative net result

Or group of wood and paper, which yesterday published its half-year results, is not in the best shape. It cut its losses in the first half, with a negative net result of EUR 3.3 million, against a deficit of 1.3 million during the corresponding period of the previous year.

"Excluding the impact of the technical decision programmed of the paper mill, the loss is reduced to 1.3 million", says François Vittoz, the CEO of Biscay. At the same time, the group saw its turnover advance of 3.1, to EUR 290 million, with various changes in the segments: sawmilling activity increased by 27, sales of products for the decoration fell by 10. Overall, Biscay has suffered from the rising costs of energy and raw materials (wood, plastic, aluminum), while the prices of its products remained below those of the first half of 2009.

The situation is expected to improve on the second part of the year by the pursuit of price increases. "Levels will be higher than the highest price achieved two years ago", anticipates François Vittoz.

The group is also on the rise of its activity of habitat wood and can take into account the added value of EUR 14.8 million from its distribution pole assignment. The latter was sold late July to Raja French for 56 million.