US agribusiness giant Bunge is in talks over a possible stake in SOS Corporacion Alimentaria, the Spanish food group behind Bertolli and Carbonell olive oils.

SOS said today (27 October) that its discussions with Bunge related to its plans to sell shares worth EUR200m (US$276.6m) to help restructure its debt and find expansion.

However, SOS dismissed reports in Spain that the talks with Bunge had included a possible takeover offer from the US firm.

“In the discussions with Bunge, there has been no mention of a possible share offer for SOS,” the company said.

Earlier this month, SOS said it had also been holding talks with Portuguese olive oil firm Sovena to “explore possible avenues of collaboration or integration”.