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CVC wins buyout battle for Spanish olive oil bottler Deoleo

9 Apr 2014

bertolliCVC Capital Partners has tabled the best takeover offer for Spanish olive oil bottler Deoleo by bidding €0.38 per share, the company has revealed.

Deoleo, which owns the world-renowned Bertolli olive oil brand among others, said the offer valued it at about €439m.

Italian government backed Fondo Strategico Italiano was also interested in the business, which received buyout interest after four Spanish banks put a combined 31 per cent stake up for sale.

Earlier this week UK-headquartered CVC hired Welsh, Carson, Anderson & Stowe general partner John Clark as a managing partner based in New York.

Clark will focus on mid-market, growth-oriented deals in the technology, software and tech-enabled business services sectors.

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