a new company that would take the form of a 50/50 joint venture.
Both management teams will follow the French legal requirement regarding the consultation of workers’ representatives on the joint venture project, and will encourage dialogue among the various unions and employee representatives. For the immediate future, there will be no change in employment levels due to the transaction. However, more in-depth analysis would be needed to determine the impact on employment going forward.
The transaction will require the approval of the European Commission. Assuming the necessary clearances are obtained, the companies would begin implementing the joint venture once the transaction closes.
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