Salins Owners Said to Hire Lazard for Sale of Saltmaker
Stock Chart for Lazard Ltd (LAZ)
Chequers Capital and Abenex Capital, both based in Paris, hired Lazard to manage the disposal, which may value the company at about 300 million euros ($394 million), said the people, who declined to comment because the sale is private.
The company, whose main salt production site is located near the medieval wall of the southern town of Aigues-Mortes, makes products that include La Baleine table salt, the more expensive artisanal salt Fleur de Sel de Camargue, as well as salt used for icy roads and industrial purposes.
Salins, founded in 1856, produces close to 2.2 million metric tons of salt, according to its website. Chequers and Abenex bought Salins from Credit Agricole SA (ACA) in 2004. It was sold to Credit Agricole in 2000 for $270 million, according to data compiled by Bloomberg.
Spokesmen for Chequers and Lazard declined to comment. Representatives of Abenex couldn’t be reached immediately.
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