CFAO strengthens its positions in New Caledonia
CFAO announced that it has entered into an agreement with the New Caledonian group Pentecost with a view to pooling their respective interests in the automobile distribution and civil engineering and mining equipment com...
Upon completion of the share transfers, CFAO and the Pentecost group will respectively own 74% and 26% of the shares in the new joint-venture, which in turn will own all of the shares in the operating companies Ménard, Almameto, Prestige Motors, Intermotors and NC Motors.
This link-up bolsters the historic partnership enjoyed by CFAO and the Pentecost group, consolidating CFAO's positions in the automobile, civil engineering and mining equipment sectors in a region endowed with significant mining resources and a high growth potential market.
In 2009, the companies covered by this agreement employed 300 people and generated revenue of approximately €165 million.
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