French food co-op Terrena and local agribusiness Sofiprotéol should seal their deal to acquire a majority stake in poultry processor Groupe Doux in January.
A spokesperson for Doux confirmed comments made by the company's CEO, Arnaud Marion, to French newspaper Le Telegramme that the transaction should be finalised eight months after talks were first announced.
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The spokesperson said a definitive offer would be made at the end of August, followed by two months of consultation with staff representatives. French anti-trust authorities would then take two months to look into any possible impact on competition in the sector.
In May, Terrena said it and Sofiprotéol were in "exclusive" negotiations with D&P Participations, the holding company of the Calmel family, to buy its 52.5% stake in Doux, France's third-largest poultry group. Doux generated sales of EUR457m (US%516.5m) in 2014.
The co-op said together it and Sofiprotéol would hold the majority shareholding in Doux. Sofiprotéol would be a minority shareholder.
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Terrena, which already operates in France's poultry sector, said at the time the potential buyers wanted to "contribute to the consolidation of a poultry industry that is competitive in export markets".
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By GlobalDataPoultry exports, particularly to the Middle East, is Doux's largest business.
