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CFDT union backs La Redoute sale terms
March 24, 2014 / 3:10 PM / 4 years ago

CFDT union backs La Redoute sale terms

LILLE, France, March 24 (Reuters) - The CFDT trade union announced on Monday it would back the restructuring plan put forward by loss-making French mail order group La Redoute, a move that may allow a buyout from owner Kering to go ahead.

Kering had said a rejection of the deal and its accompanying severance packages for some employees, already signed by the CFE-CGC union, would prevent completion of the proposed sale to La Redoute’s chief executive Nathalie Balla and Eric Courteille for a symbolic 1 euro.

The CFDT, along with other unions the CGT and Sud, last week refused to back the deal by a Friday deadline set by the company.

Kering had no comment.

Reporting by Andrew Callus; Editing by Maya Nikolaeva

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