Deoleo has said it is hopeful that an investigation by Spanish competition authorities into the purchase of a stake in the company by Spanish olive oil cooperative Hojiblanca will see the deal approved.
Hojiblanca agreed to acquire a near 10% stake in local rival Deoleo in October. The transaction will see Hojiblanca take a 9.63% share in Deloeo, formerly Grupo SOS, in return for transferring ownership of its brand and Málaga bottling plant to its rival.
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However, according to local press, Spanish authorities are investigating the implications that the acquisition will have on competition in the market.
A spokesperson for Deoleo told just-food today (11 January): “All we can say is that we are in a second part of the process, in which we have to provide the information requested by the authorities, and we hope that the investigation will end in a positive verdict for the operation.”
Kepler analyst Joaquin Garcia-Romanillos believes the competition authorities may take “longer than initially expected to clear the deal”, and eventually ask for some “remedies” that would need to be analysed in detail.
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