Dutch dairy firm Campina has announced that it has sold all its shares in Dutch food group Wessanen.
Also this week, Wessanen announced that it has purchased 3.5 million of its own shares, amounting to a total sum of around €31m (US$38.0m).
Campina described the sale as a disposal of a “non-strategic financial asset”, and said it would provide details of the capital gain realised at a later stage. Campina held a stake of more than 10% in Wessanen, while the amount of shares bought back by Wessanen this week was around 5%, reported Reuters.
A Wessanen spokeswoman said it was very likely that the company had bought some of the shares that were being sold by Campina, although there was no direct contact between the two companies.
“We saw a block of shares on the market and seized the opportunity because we see it as a good investment in the future of the company,” she was quoted by Reuters as saying.