Challenge Italy-Spain on olive oil: Coricelli offers 500 million for Deoleo
Not just migrants. The challenge between Spain and Italy is shifting to olive oil. Deoleo's shares are weak today on the Madrid Stock Exchange, after the surge in recent weeks - as reported...
Shares of Spanish company Deoleo, which owns olive oil brands such as Bertolli and Carapelli, fell 2.7% on the Madrid stock exchange. The drop comes after weeks of gains amid reports that Italian company Coricelli is set to acquire Deoleo for €500 million. The Spanish government is reportedly concerned that the sale could see decision-making power shift to Italy, a strategic blow to Spain's olive oil industry.
Coricelli has launched its bid through a holding company based in Seville and has pledged to maintain Deoleo's jobs and operations in Spain.
Written by urgent.news from Il Sole 24 Ore's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
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- Coricelli raises bid for Deoleo to 500 million thecorner.eu
