Spanish food company Ebro Pueva and industrial group Abengoa have denied rumours that they are interested in acquiring Madrid-based rice and cookie maker Sos Cuetara.
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In a statement yesterday (21 November), Ebro Puleva said it was not involved in any talks regarding a possible acquisition of archrival Sos Cuetara. A similar statement from Abengoa followed this.
Analysts said that Sos would not be a good fit for either Ebro Puleva or Abengoa as a tie-up would create competition problems in the rice sector for Ebro and would not jell with Abengoa’s strategy to make bioethanol since Sos makes biodiesel.
