🏛️⚖️ Court approves Métal Blanc's bid for Novasco, government sues Greybull Capital

Oneliner

The Strasbourg commercial court has approved Métal Blanc's takeover of Novasco, leading to the liquidation of three sites and approximately 550 job losses. Only the Leffrinckoucke site will remain operational, retaining 144 jobs. In response, the French government is suing Greybull Capital for failing to meet its financial commitments made during the 2024 acquisition. Junior Minister Sébastien Martin emphasized the need for accountability, stating, "Impunity is over." The government aims to secure the industrial site and prevent its fragmentation.

Key points

• Strasbourg court approves Métal Blanc's takeover, leading to 550 job cuts.
• Government initiates legal action against Greybull for failing to meet financial commitments.
• Only the Leffrinckoucke site will remain operational, with 144 jobs retained.
• Minister Sébastien Martin emphasizes accountability for Greybull's role in Novasco's bankruptcy.

Links

• BFMTV: "J'estime que j'ai aujourd'hui assez attendu": le ministre de l'Industrie va poursuivre en justice Greybull, repreneur de l'aciérie Novasco en 2024
• Franceinfo: "L'impunité, c'est terminé": le gouvernement attaque en justice le groupe britannique Greybull pour la faillite de l'acièrie Novasco
• Franceinfo: Novasco : le tribunal valide l'offre de Métal Blanc qui ne reprend que le site près de Dunkerque, 550 emplois supprimés

Facts

• Strasbourg court approved Métal Blanc's bid on 17 November 2025.
• Approximately 550 jobs will be lost due to the liquidation of three sites.
• Only 144 jobs will remain at the Leffrinckoucke site.
• Greybull Capital had promised €90 million but contributed only €1.5 million.

Quotes

• Impunity is over — Sébastien Martin
• I consider that I have waited long enough for it to make concrete and serious proposals — Sébastien Martin

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