Italian group Coricelli counterattacks and raises its offer for Deoleo to 500 million euros, outbidding Dcoop, which made a purchase proposal of 460 million . Deoleo, owner of brands such as Koipe and Carbonell, confirmed yesterday afternoon in a statement to the CNMV that both CVC and Alchemy are studying the sale of their stakes—50.9% and 40.3% respectively—though without yet mentioning potential buyers. According to the group, the funds “are…
Dcoop takes the initiative to acquire the olive oil group Deoleo. Its €470 million offer is currently the best positioned, with its Italian rivals, Coricelli and New Princess, showing no signs of improving theirs. If Dcoop’s plans come to fruition, the advantages for the cooperative are clear, as it would gain control of iconic brands with a strong presence in Spain and Latin America, such as Carbonell, Koipe, and Hojiblanca….
Link Securities | Deoleo (OLE) informed the National Securities Market Commission (CNMV) that it has received a payment demand (Cartella de Pagamento) from the Italian tax agency (agenzia delle Entrate Riscossione) corresponding to the Italian Tax Contingency. The sum to be paid by Carapelli Firenze under the Payment Order finally amounts to €64.7 million, compared to the $89 million initially estimated with a criterion of prudence and communicated to the…
Alphavalue/ Divacons | Shares in the Spanish olive oil company fell 6.09% on Friday. The company reported that Carapelli Firenze, its Italian subsidiary, has received from the Italian court of second instance the notification of an unfavourable ruling in relation to the tax claim linked to its dispute with Italian customs, which dates back to 2014. Deoleo adds that, once it has been notified of the full content of the…
Link Securities| The company wants to double its size in India, where it is growing by more than 10% a year, over the next three years, Expansión reports today. It wants to sell eight million litres in 2026, compared to four million in 2022. Deoleo is increasing its diversification with the Figaro Baby line, and will launch a shampoo to take advantage of the cosmetic use of olive oil in…
Link Securities | The Portuguese company Sovena and the Andalusian company Migasa, which markets brands such as Ybarra and Musa, are considering participating in the operation and submitting indicative proposals for the Spanish company. The cooperative Dcoop, Acesur and Borges have also already shown interest and are the main rivals, according to sources close to the competitive process for the sale of Deoleo, as confirmed to the digital newspaper elEconomista.es….
Spanish food company Deoleo, which owns oil brands like Carbonell, saw a 78% increase in its share price yesterday. This came in the wake of the presentation last Friday of its Q1 2020 results. Deoleo reported net profit of 3.4 million euros in the first threee months of the year, compared with a loss of 10.6 million euros a year earlier. These figures represent the company’s return to profit for the first time in six years.
MADRID | By The Corner | Spain’s production of so-called gold liquid made Spanish company Deoleo olive oil’s world leader. After a sound restructuring, British private equity firm CVC bought a major stake of 29.99%. Just three stakeholders Unicaja (11.35 %), Kutxabank (4.8 %) and Caixabank will guarantee the ‘Spanishness’ of Deoleo. Better than an Italian entering into the company’s capital, which was also considered.
MADRID | By Jaime Santisteban | Business confidence reached an all-time high, encouraging the return of strong productive investment. Moreover, Deoleo complex process resolution, downward market trends and much more…