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Spain's Deoleo says CVC made best bid for the company
April 9, 2014 / 7:06 AM / 4 years ago

Spain's Deoleo says CVC made best bid for the company

MADRID, April 9 (Reuters) - Spanish olive oil bottler Deoleo said on Wednesday the best takeover offer it had received was tabled by private equity firm CVC Capital Partners, which bid 0.38 euros per share for the entire company.

Four Spanish banks are selling a combined 31 percent stake in Deoleo, and under local law the buyer of the holding must make a full takeover offer for all of the company’s shares.

CVC’s bid values Deoleo at around 439 million euros ($606 million). Deoleo’s shares closed at 0.43 euros per share on Tuesday.

$1 = 0.7249 Euros Reporting by Sarah White, Editing by Mark Potter

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