SOS Corporación Alimentaria, the Spanish food group behind Bertolli olive oil, has said current market conditions mean it is not seeking a listing in Italy.
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The company, which earlier this month laid out plans to divide the business into four along regional lines, today (14 September) said it had no current plans to list on the Italian stock market.
SOS has endured a tumultuous few months in which a share scandal led to the departure of the group’s chairman and CEO, to the company restating its 2008 accounts – and booking a EUR190m (US$277.3m) loss – and to a share issue worth EUR200m.
Two weeks ago, SOS booked a half-year loss of almost EUR62m for the first six months of 2009, as financial charges hit the company’s bottom line.
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