Saudi Kayan

Saudi group to acquire minority stake in Doux

: Sunday, November 10 - 2013 @ 00:00

Saudi food distributor Almunajem is set to sign an agreement with troubled French poultry group, Doux, to take a minority stake, Reuters has reported. “Discussions are well on track,” a Doux spokesman said. The deal, which is due to be signed in the next few days would see D&P, a family-owned investment firm led by Didier Calmels, take 52.5% of Doux, with Almunajem and the Doux family taking the rest. The poultry group laid off about 1,000 workers last year, but still employs 2,400 people.

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Sunday, November 10- 2013 @ 0:00 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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