Coricelli raises Deoleo takeover bid to 500 million euros

Italian multinational Coricelli has increased its takeover bid for Deoleo to 500 million euros, surpassing previous offers from Spanish companies Dcoop and Acesur, which stood at 470 million and 460 million euros respectively. In addition to the higher valuation, Coricelli has requested exclusivity in the negotiations until the deal is finalized.

The sale process for the manufacturer of brands such as Carbonell and Bertolli has accelerated following announcements from major shareholders CVC and Alchemy. These funds, holding 50.9% and 40.3% of Deoleo respectively, are exploring strategic alternatives for their investments. While the sale is expected to close in September, Deoleo has stated that no definitive decision has been made regarding the specific terms or the final outcome of the ongoing process.