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French Government Backs Gad Josselin Takeover

2 September 2014, at 8:36am

FRANCE - A proposal has been put forward by a group from the troubled Gad Josselin slaughterhouse in France and its subsidiary SVA Jean Roz to acquire the ailing pig processing company.

The group has put forward their plan in a letter of intent giving details of the proposal outlined on 19 August at a meeting with Agriculture Minister Stéphane Le Foll (pictured) and employees at the company.

Mr Le Foll welcomed the announcement and the intention of the group to invest in the company to maintain the operations at Josselin and help secure jobs in the pig sector.

The French government has thrown its full weight behind the plan and is waiting to hear the outcome of the takeover bid that is at present before the commercial court in Rennes.