April 25, 2014 / 6:06 PM / in 3 years

Spain's Deoleo shareholders agree to sell 29.99 pct to CVC

MADRID, April 25 (Reuters) - Three major shareholders in global olive oil giant Deoleo have agreed to sell a combined 29.99 percent stake in the company to private equity firm CVC for 0.38 euro per share, Deoleo said in a statement on Friday.

Deoleo said Spanish bank Bankia would sell its 16.5 percent stake, Banco Mare Nostrum 4.85 percent and Dcoop olive cooperative an 8.64 percent stake.

The acquisition will be followed by a capital reduction and refinancing, then CVC will launch a public offer for all outstanding shares at 0.38 euro per share. And finally, Deoleo will undertake a capital hike in which CVC will invest at least 100 million euros, the company said. (Reporting by Fiona Ortiz; Editing by Julien Toyer)

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