Spanish food group Ebro Puleva has admitted it is still weighing up options for its sugar business amid renewed speculation the division could be sold off.
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Ebro has remained tight-lipped on its plans for the division but said an internal review into the business is expected to be made public this autumn.
“We have previously announced that we are considering a number of options for our sugar unit. No decision has yet been reached,” a spokesperson for the company told just-food. “We plan to make an announcement in October.”
Ebro has restructured its sugar arm in recent months in the face of EU reform of the sector.
According to Spanish newspaper Cinco Dias, Ebro chairman Antonio Hernandez Callejas told shareholders that the group has hired Banco Santander to handle the potential sale.
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By GlobalDataAmong the potential suitors are European sugar companies British Sugar and Sudzucker. British Sugar refused to be drawn on Ebro when contacted by just-food today (10 June).
Other possible buyers are rumoured to include Castilla and Leon savings banks and private equity firm Permira.
