Now that Bankia, BancoMareNostrum and Caixabank have sold their positions in the Spanish food giant Deoleo, the company is looking for new investors to take it into its next period of growth. Hojiblanca, the biggest olive oil cooperative in Spain, is in negotiations to step in for the three banks by purchasing 30% of Deoleo.
If the deal goes through, and it seems like it will, Deoleo will grow and become the top oil producer in the world, surpassing titans in the ever-strong Italian oil industry.
The benefits from the stakeholder change don't stop here, because if Ebro owns Deoleo capital, that will open doors to creating a major national food company in Spain that can compete in the international market.
