Private-equity firm Oaktree Capital Group Holdings is reportedly set to acquire control Spanish doughnut maker Panrico.

On Friday (18 November) Spanish website Europapress cited sources that said Oaktree is expected to raise its stake in Panrico from 25% to about 80%. Oaktree will look to buy the stake when the financial restructuring of Panrico’s bread and pastries division, which includes a cash injection of EUR105m (US$141.8m) provided by a venture capital fund, is completed.

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On Monday (21 November) Oaktree’s interest was confirmed when the European Commission announced it is currently reviewing the application.

Oaktree could not be reached for immediate comment, while Panrico refused to be drawn on the report.

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