Megafinance’s decision to inject “well over” EUR70m (US$103.8m) into bankrupt Spanish food group Nueva Rumasa will be made in the coming days, the Portuguese buyout fund has told just-food.

“The final steps are being made in the due diligence, our executives are meeting in Madrid and they expect to make a decision next week,” a spokesperson said yesterday, adding that the initial EUR70m sum reported by the Spanish press could be surpassed. “The investment could be well over that.”

The comments come amid speculation about undisclosed national and international bidders lining up for Rumasa’s bankrupt assets, which include dairy firm Clesa, desserts brand Dhul and chocolate drinks firm Cacaolat.

On Tuesday, a Rumasa workers’ committee official confirmed that at least a dozen firms have expressed interest in ailing Rumasa egg producer Hibramer, which has EUR100m in debt, although he would not reveal any names.

According to sources, Megafinance is primarily interested in Dhul and Cacaolat and will present its own restructuring model for Rumasa, which has been burdened with high debt and management problems for months.

Rumasa, which has been struggling to raise money through failed new stock issues in recent months, has said it would provide investors with fresh guidance on its turnaround strategy next month.

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