Spanish food group SOS Corporacion Alimentaria today (6 July) revealed that it remains in talks with lenders over refinancing its EUR1.1bn (US$1.38bn) debts.
The owner of Bertolli and Carbonell olive oil has struck a deal with over half of its lenders and expects to have won agreement from the rest of the banks by the end of the month, the company told just-food.
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SOS also denied reports that it had sealed plans to sell dried fruits business Bernabé Biosca, although it said talks with a mystery buyer over a possible sale were “advanced”.
SOS has had a challenging year, including the dismissal of its chairman and CEO amid a share scandal.
The company had been looking to sell its rice business but a spokesperson said it wanted to keep the division, along with its olive oil operations, due to their “international potential”.
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