Barclays, a global financial services firm, made a bid to swap a €140 million ($169.73 million) loan for an 80 percent stake in French poultry group Doux, according Reuters.
Another serious player for the poultry group is a consortium led by French oilseed giant Sofiproteol.
The French government is backing the company in its bid for family-owned Doux.
Also active in the animal feed, egg and pig breeding industries, Sofiproteol would lead a French consortium to make an offer for the entire group. However, the company would not take over Doux’s debts.
In the Barclays proposal, family members and French bank BNP Paribas would split the remaining 20 percent stake in the company.
Charles Doux, chairman of the poultry export giant, has held an 80 percent share of the firm with his family, with the remaining 20 percent controlled by BNP.
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