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.
Go deeper with GlobalData
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.
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".
Poultry exports, particularly to the Middle East, is Doux's largest business.
