Exclusive discussions between Italian energy group Edison and a consortium of French and Italian sugar beet growers over the purchase of sugar company Beghin-Say will be extended until the 2 August 2002, reports Les echos.
Discussions began on the 13 June and were set for completion on the 25 July. Last week the consortium announced that it had succeeded in amassing a sum of €160m from the beet producers. The financial plan should be completed once the response rate reaches 80 per cent, the report continues.
The Italian farmers group, which includes Confagricoltura, Finbieticola and the sugar beet growers' association, wants to protect the domestic industry, which has eight factories and employs some 1,400 people with over 22,500 farmers growing beet. French sugar beet growers' group CGB said on July 6 that it had formed a legal structure to buy Beghin-Say, just days after it began trading as a separate entity.