FRANCE - N.I Partners-backed CBM employees go on strike

According to the 45 employees, Fauconnet was dismissed by NI after he proposed a management and employee plan to purchase the firm. They argue that the investment house, a subsidiary of Natixis bank, is seeking to sell CBM, and that the takeover offer had hindered its ability to maximize the company sale price.

NI claims it has neither received any bid by the management and employees, nor that it is seeking to sell the company. A new round of negotiations with the employees is taking place today.

Headquartered in Mans and founded in 1986, CBM distributes spare parts for transport vehicles, with a particular focus on buses and coaches.

The investor purchased the company in June 2005.

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