According to the regional and national press (La Marseillaise, Les Echos, Libération, etc.), the investment banker and media businessman Matthieu Pigasse has submitted the letter of intent with a view to supporting the takeover bid led by the company’s management (see our news dated June 17). Other investors may yet come forward to bolster this bid. In any event, hopes are being revived for a possible takeover of the company, even though many uncertainties remain to be resolved, such as the amount of funding required or the government’s fulfilment of the conditions precedent to the management’s bid (electricity purchase price, timber price, etc.). The hearing at the Toulouse Commercial Court has been postponed until 6 July.
V. L.
Photo/Fibre Excellence
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