MILAN, March 6 Italy's state-backed Fondo
Strategico Italiano (FSI) said on Thursday it has made a
non-binding offer to buy a 30 percent stake in Spanish olive oil
manufacturer Deoleo, as it seeks to bring home some
The stake in the olive oil company has been put on the block
by several Spanish banks, including nationalised Spanish lender
Bankia and Barcelona-based Caixabank.
Bankia, which owns an 18.2 percent stake in Deoleo, is on a
drive to shed assets after it received the biggest part of a 41
billion euro European bail-in for Spanish lenders last year.
"We filed an offer for it (Deoleo) ... it controls Italian
brands that are interesting for us," a spokesman for the Italian
fund told Reuters on Thursday.
The Spanish company, which posted revenues around 800
million euros ($1 billion) in 2013, owns the well-known and
widely distributed Italian food oil brands Bertolli, Carapelli
($1 = 0.7225 Euro)
(Reporting by Luca Trogni, writing by Francesca Landini;
editing by G Crosse)