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Home/Dominique Desseigne hands over to his son Alexandre Barrière
Dominique Desseigne hands over to his son Alexandre Barrière
Created in 1912, the Barrière group has long been the leading operator of land-based casinos in France in terms of gross gaming revenue.
After the plane crash that left Diane Barrière-Desseigne a quadriplegic, it was her husband Dominique Desseigne who took over the company.
Her son Alexandre Barrière has just finally managed to convince him and the Board of Directors to let him take over.
On this occasion, he immediately took 2 important decisions concerning the group’s capital and its general management.
A smooth transfer of power at the heart of a French casino flagship
It’s finally here: father and son have finally come to an agreement. The future of one of France’s leading luxury hotel and casino companies is at stake in this handover. Indeed, the Barrière group owns some of the most prestigious establishments in France, such as Deauville, Cannes, Enghien-les-Bains, Bordeaux and Toulouse.
Dominique Desseigne is currently 78 years old. It is known that he planned to remain the President of the group until 85 years. On the other hand, his 34-year-old son Alexandre Barrière was lobbying in the shadows to take over. Moreover, he has just succeeded in doing so smoothly.
>>> Read also: “Towards a succession at the head of the Barrière group?”
A climate now calmed between the father and his children
It should be noted that after the death of Diane Barrière, during the year 2001. His children (Alexandre and Joy Barrière) became the majority shareholders of the famous operator. Together, they hold 60% of the capital in bare ownership.
As for their father Dominique Desseigne, he had only the usufruct of these shares. He is therefore preparing to transfer it to his son and daughter. It is the businessman Marc Ladreit de Lacharrière who owned the remaining 40%.
According to someone close to the case, the climate is now calmed between the father and his children. No less than 3 law firms have worked on this agreement in order to satisfy all parties.
For the past 2 years, Alexandre Barrière has revealed himself, which has allowed him to obtain the support of the majority of the board of directors. His 31 year old sister Joy has a close relationship with him and remains at his side in the group’s capital.
The first 2 decisions of Alexandre Barrière
Now that he is at the head of the Barrière group, Alexandre has just made 2 important decisions. With his sister, he bought the shares of Marc Ladreit de Lacharrière, who thus withdrew from the company’s capital. For the financial set-up of this LBO operation estimated at several hundred million euros, they are accompanied by the investment banks Rothschild and Lazard.
The other notable decision of Alexandre Barrière concerns the recruitment of a general manager. It was Gregory Rabuel who was chosen. He previously held the same position at SFR and Altice.
With these radical initiatives, the new boss of the Barrière group proves that he wants to break with the patrimonial management of his father.
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