A French court has decided to delay the decision of indebted poultry group Doux's possible takeover until at least October, according to reports.
Two competing plans were submitted: one involving giving Barclays bank an 80 percent stake in the company in exchange for €140 million (US$172.42 million) in debt forgiveness; and the other a takeover offer from a consortium of French agri-business groups led by oilseed company Sofiproteol. The commercial court has extended its deliberations until Oct. 9 and, in the meantime, ordered the liquidation of Doux's fresh poultry activity and called for bids for the business to be submitted by Aug. 10.
Doux employs roughly 4,000 people, and either plan will include the loss of 1,000 jobs.
American Farm Bureau Federation video shows how organizations, Alt family stood up for what was fair to poultry producers
Investment will enhance service delivery to retail customers, contribute to local community
The high scores the PCI continues to see in the last three quarters of 2013 are driven in part by a decline in feed costs.
--- Thank you for your patience ----
If you have any issues logging in or any other need feel free to contact us.