France aims to privatize Credit Lyonnais in 1999

Article Abstract:

Credit Lyonnais, a bank in France, will be privatized by the French government in the first half of 1999, depending on the conditions of the market. A government official has revealed a plan intended to ensure the bank's recovery and shield it from a hostile takeover. He says the plan will assure the state, the bank, employees and tax payers of a protection of their interests. The sale will include the transfer of around one-third interest to a group of core shareholders composed of Credit Lyonnais' present business partners or other interested institutions.

Comment:

Will be privatized by French government in first half of 1999, depending on conditions of market

Commercial Banks, Commercial Banking, Organizational history, Credit Lyonnais

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France confirms revamp at Giat will include up to 4,000 job cuts

Article Abstract:

Giat Industries SA of Paris, France, a defense group, is planning to embark on a companywide restructuring that will lead to the elimination of 3,500 to 4,000 jobs and the shut down of a number of production facilities, said France's Defense Minister Alain Richard. Giat, which employs 10,500 people, is expected to effect the changes to improve its profitability, said Richard. Meanwhile, Richard claimed that the government will also consider layoffs and plant shut downs when it makes plans to reduce military units and cut down defense industry operations.

Comment:

Plans a restructuring that will lead to the elimination of 3,500 to 4,000 jobs & shutdown of a number of production facilities

Labor force information, Plant shutdown, All Other Fabricated Metal Product Manufacturing, Ordnance & Accessories, Giat Industries S.A.

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Coca-Cola, Orangina workers ser pact

Article Abstract:

Coca-Cola Co. signed an accord with France-based soft-drink company Orangina, guaranteeing jobs and present salaries through 2000 and maintaining a 35-hour workweek. The agreement was reached just two days before the deadline for the French government's approval of rejection of Coca-Cola's pending acquisition of Orangina. Government approval is dependent upon Coca-Cola's protection of competition in the French soft-drink market

Comment:

Signed an accord with France-based soft-drink company Orangina, guaranteeing jobs and present salaries through 2000

Canned & Bottled Soft Drinks, Soft Drink Manufacturing, Personnel administration, Soft drinks, Coca-Cola Co. (Atlanta, Georgia), Orangina

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