SPAIN: Natra cuts stake in Natraceutical subsidiary
Spanish chocolate group Natra has reduced its stake in natraceuticals subsidiary Natraceutical to less than 50%.
The company revealed it has sold 2.47m shares in the business and resigned its claim to chairmanship of the Natraceutical board of directors. The sale represents 0.76% of Natraceutical outstanding share capital, reducing Natra's stake to 49.84%.
Commenting on the move, Natra said: "Should Natra's board of directors agree a significant divestment of this shareholding in the future, Natra's willingness is that this will be done in an orderly manner, without harming the value and informing the market in due course."
The company did not provide additional comment on whether a further stake sale is being considered.
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