Lactalis has withdrawn its appeal to France’s Supreme Court over last year’s sale of dairy firm Toury.
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The company had petitioned France’s top court after an appeals court had upheld a decision from a commercial tribunal in Clermont Ferrand to allow a consortium of four companies to buy Toury.
Lactalis had wanted to buy Toury, which went into administration last year, and had sought the appeal alongside senior managers of the nine companies that make up Toury.
The consortium, led by local cheese maker Dischamp, will acquire a EUR230m (US$338m) business, which fell into administration amid losses in excess of EUR150m.
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By GlobalData
