Alain Madelin

"The unions turn to the government to block the sale to the Swedes. And to everyone’s surprise, the right receives their message well. The operation seriously stalls in the ministries, especially in the Ministry of Industry where Alain Madelin becomes angry. Reduced by Chirac and Balladur to a mere figurehead, the minister seizes the opportunity to demand answers from Arnault. He has one of his cabinet members say: "Bernard Arnault has made capital gains on asset sales that were recapitalized by the state and that he is now using in luxury and distribution. Not a penny of the 400 million capital increase he made has gone into textiles.""

"he takes over Isoroy, a company in decline resulting from the merger of three wood panel manufacturers, benefiting from a subsidy of 250 million francs and a tax exemption of the same amount. Second operation: the takeover of the newspaper paper manufacturer La Chapelle Darblay, one of the most important industrial disasters in the Republic, located near Le Havre, in the electoral stronghold of Laurent Fabius. The company has received, at a loss, more than 2.5 billion francs in subsidies in various forms. A Canadian buyer is found by Alain Madelin, Minister of Industry. He presents himself associated with François Pinault. The business is entrusted to them. Immediately, contrary to what was planned, François Pinault files for bankruptcy. The Canadian is marginalized. Creditors cry foul. The return to power of the socialists allows Pinault to oust the Canadian, who is not allowed to participate in a capital increase. And in 1990, La Chapelle Darblay will be sold to the Finnish company Kymmene for 1.3 billion francs. In the meantime, Pinault SA has arrogated its wood supplies..."