Spanish food group Ebro Puleva has said its Iansa unit has sold its tomato paste business to a group of investors led by Mexico's La Costena and Chile's Corpora Aconcagua for US$35.5m.

Ebro Puleva said the "the operation will generate positive cash flow of about US$41m, with a negative impact on earnings of about €4.7m (US$5.7m) in 2004", reported AFX News. 

The purchasers are expected to complete payment for the assets in 2007.