2023-06-05 18:48:21
The titles of Deoleo have shot up 10% on the stock marketleading the earnings of the close continuous market, until exchanging at a price of 0.28 euros per share, given the possible interest of several companies in buying the company.
The CVC Capital Partners fund, the company’s majority shareholder, has hired the US bank Lazard to probe the market and prepare the sale of the company, which has to materialize before 2025, according to the agreement signed with the creditors for the restructuring of the debt that led to his entry into the shareholding.
Although there is still no date for the presentation of the offers, sources close to Deoleo quoted by “El Economista” have confirmed the interest in participating in the bidding process. Acesur, the company that owns La Española and Coosur, that already has 5% of the capital; the Dcoop and Borges cooperative.
Deoleo recently advanced at its shareholders’ meeting a “complex and challenging context” for the olive oil sector in 2023, due to the impact of inflation and the current drought that is affecting production in recent years.
“The complexity of the current context has led to an inflationary scenario that is significantly affecting the entire economy. Rising inflation has had a notable impact on olive oil consumption, which decreased by 6% in Spain and Italy in 2022 and that, to this day, continues to be greatly affected”, explained the president and CEO Ignacio Silva to the shareholders at the general meeting held in Rivas Vaciamadrid
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