The shares of Deoleo, the multinational olive oil company owner of Koipe, Carbonell, and Carapelli, have closed this Friday's session on the Continuous Market with a strong decline of 6.38%, in the midst of the company's selling phase and after the Spanish Government has expressed its preference for the eventual buyer to be a national company.
Throughout the day, the shares of the Spanish company have recorded continuous declines that have reached intraday drops of up to 7.3%, ultimately finishing with a cut of 6.38%, leaving the share price at 0.396 euros at closing.
This sharp stock market adjustment occurs after it became known that the Executive has shown its preference for the future owner of the Hojiblanca and Carbonell manufacturer to be a Spanish entity, according to sources from the Ministry of Agriculture, Fisheries, and Food who spoke to Europa Press.
The department headed by Luis Planas has admitted that it is closely monitoring the divestment process of the Spanish multinational, in which Coricelli, Dcoop, and Acesur are competing, as it "affects" the entire agri-food sector, in which Spain holds global leadership as the world's leading producer of olive oil.
In this context, the Government's stance on this "possible private sale operation, between companies and investment funds" is defined as "favorable to the possibility that the potential acquirer is a Spanish entity," always within the framework of "current legal regulations" and respecting market conditions.
The sale process of the group owning Koipe and Carbonell has intensified in recent weeks, and forecasts indicate that it could be completed in September, after the funds CVC and Alchemy, holders of 50.9% and 40.3% of Deoleo, respectively, communicated to the National Securities Market Commission (CNMV) that they are evaluating different strategic alternatives regarding their participation, including the "possible total sale" or "part of their assets and businesses."
In this bidding, the Italian multinational Coricelli has taken the lead after raising its proposal for Deoleo to 500 million euros on August 15, thus surpassing the offers presented by the Spanish Dcoop (470 million euros) and Acesur (460 million euros), and has requested exclusivity in the negotiation until the transaction is closed.
Informed sources of the process explained to Europa Press that the operation is articulated directly through Farmers Elite Global, the Spanish 'holding' company that acts as the global parent of the Italian family's business conglomerate.
This company, from which all the group's companies depend both in Spain and in Italy (including Pietro Coricelli SPA) and in the United States, has its registered office in Seville since the year 2015.
Likewise, the same sources emphasized that the group's activity in Spain dates back to earlier dates, as it also controls companies such as Aceites Abasa, based in Baena (Córdoba), acquired at the beginning of the 2000s.