Spanish olive oil producer Deoleo has sold its 50% stake in its Moltuandújar joint venture to partner Sovena, the Portuguese group.

Deoleo announced yesterday (21 May) Sovena would pay EUR6.1m (US$7.9m) to own 100% of the venture. Along with the stake sale, the two companies agreed to transfer machinery and lease assignment for the oil packaging site located in Andújar.

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The move came as part of an efficiency plan to ensure the viability of the Andújar facility, Deoleo said.

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