French investment fund, Développement & Partenariat (D&P), is poised to become the majority shareholder of troubled poultry group Doux.
“The reports [in the media] about D&P, together with the operation which could allow Doux to reduce its debts, were confirmed by the administrator this morning,” a Doux spokesman told just-food today (21 May).
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D&P has proposed to acquire Doux’s debt from Barclays and take two-thirds of the French group’s capital in return. Doux has been in administration since June 2012.
The Doux family and BNP Paribas will account for the remaining third of the group’s capital.
However, the spokesperson added: “The acquisition of the debt to Barclays has yet to be finalised.” It had been reported that Barclays was planning to convert the debt into capital.
Later today, Doux’s administrator will request the commercial court of Quimper to extend the company’s period in administration by another six months.
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