The Toulouse Commercial Court has decided to postpone the hearing scheduled today June 17 to July 6. Here is the press release received from Fibre Excellence:
“The discussions during the hearing highlighted the strong interest of a new, renowned French investor. The commitment of this investor, ready to support industrial sovereignty, makes it possible to consider consolidating the current takeover plan led by Fibre Excellence’s management, or the potential submission of a new offer. This extension until July 6 will notably allow for continued discussions on fulfilling the conditions precedent to the management’s offer. Supported from the outset by the Occitanie and Sud Regions, as well as by committed investors, the objective remains to pave the way for the expected guarantees in order to consolidate the fundamentals of combined pulp and power production and ensure the long-term sustainability of the business, safeguard jobs, and initiate the group’s future diversification. Fibre Excellence welcomes the mobilization of French investors ready to commit to France’s industrial sovereignty. The management team will continue its work on the currently proposed takeover plan and ensure its successful completion for all employees, suppliers, and the entire wood and paper industry in France.”
V. L.
Photo/Fibre Excellence
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