MILAN (Reuters) - 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 (OLEO.MC), as it seeks to bring home some local brands.
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 and Sasso.
($1 = 0.7225 Euro)
Reporting by Luca Trogni, writing by Francesca Landini; editing by G Crosse