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.
See Also:
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData