MADRID, April 25 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)