
Spain’s rice-to-pasta firm Ebro Foods has confirmed it has sold its entire stake olive oil producer Deoleo.
A spokesperson for Ebro disclosed no further details about the sale as the firm’s shareholding was less than 3%.
“We are not required to provide more information about this,” they added.
In April, UK private-equity firm CVC Capital Partners struck a deal to buy Deoleo. CVC tabled an offer for the Bertolli and Carbonell olive oil maker worth EUR0.38 a share, valuing the business at EUR438.8m (US$597.5m).
The private-equity firm agreed to first acquire 29.99% of Deoleo held by a number of Spanish banks. CVC will then buy the rest of the business. It may also purchase additional shares that could be issued by Deoleo to improve its balance sheet.

US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData