Spain’s SOS Cuetara (SOS.MC) said on Sunday it would issue 200 million euros of new shares to plug a hole in its accounts after top executives were discovered siphoning off funds to buy shares in the olive oil bottler.
SOS said it was restating 2008 results and booking a loss after it emerged that chairman [...]
by Tracy Rucinski & Rodrigo de Miguel,
Spain’s SOS Cuetara (SOS.MC), the world’s biggest olive oil bottler, said on Thursday it had fired its two top executives after discovering last month they had used company funds to buy SOS shares.
“SOS Group’s board, which met today, has fired Jesus and Jaime Salazar Bello as chairman and deputy [...]
Food group SOS Cuetara has agreed to sell its olive oil brand Dante and the other brands of its Minerva Oli unit to Italian sector player Mataluni for some EUR34m (USD45.6m).
The transaction, scheduled for completion in July, is in line with SOS Cuetara’s disinvestment programme.
Dante has annual sales of some 10 million litres and holds [...]
Spanish food group SOS Cuetara has agreed to sell its olive oil brand Dante and the other brands of its Minerva Oli unit to Italian sector player Mataluni for some EUR34m (US$45.6m)
The transaction, scheduled for completion in July, is in line with SOS Cuetara’s disinvestment programme.
Dante has annual sales of some 10 million liters and [...]
Spanish food company SOS Cuetara (SOS.MC) expects to make between 100 million and 150 million euros (($125.8-$188.8 million) from the sale of further non-core assets, a company official said on Thursday.
SOS is in the process of selling non-core businesses such as its olive oil, vinegar and sauce brands as part of efforts to pay off [...]
By Davide Berretta,
Over the past five years, Italy’s biggest olive-oil brands have fallen steadily into Spanish hands. SOS Cuétara SA’s July purchase of Bertolli, one of the world’s best-known olive-oil labels, gave the Spanish food company control of half the Italian market and made it the world’s undisputed leader in olive-oil sales.
The Spanish conquest has [...]
SOS Cuetara SA is studying the acquisition of ‘many’ olive oil companies and has admitted its interest in international food manufacturer Unilever Plc.’s Italian olive oil brand Bertolli, according to SOS chairman Jesus Salazar.
Speaking to Thomson Financial News on the sidelines of a small-midcaps forum, Salazar said that it is studying ‘many companies’, and that [...]
Le 3 Avril 2008, Sa Majesté le Roi Mohammed VI a procédé à l’inauguration d’une plantation mécanisée d’oliviers (orientée par GPS) de variétés espagnoles (Arbequina et Arbossana) et grecques (Koroneiki) appartenant à la Société AGRO HEALTH et située dans la région marocaine de Beni-Mellal.
Cette plantation a été conçue et conduite techniquement par la Société espagnole [...]
SOS Cuetara SA said it is targeting a record 1.6 bln tonnes in olive oil production in 2007-2008, reiterating comments made by chairman Jesus Salazar in a recent interview with Thomson Financial News.
In a presentation, SOS Cuetara said it expects olive oil prices to remain stable and competitive in the 2007-2008 season, thanks to an [...]
Healthier margins from olive oil have driven a rise in nine-month profits at Spanish food firm SOS Cuetara.
Net income rose 10.8% to EUR13.5m (US$19.7m) in the nine months to the end of September.
Turnover, however, dipped 3.2% to EUR1.02bn.
In June, a company insider told just-food that SOS Cuetara was searching for a new acquisition in the [...]
Sos Cuetara SA expects a record olive oil harvest in 2007-2008, against a medium-term backdrop which does not anticipate any surprise negative factors weighing on earnings, chairman Jesus Salazar said.
In an interview with Thomson Financial News, Salazar said: Next year’s (olive oil) harvest is very, very good It’ll probably be a record. In the medium [...]
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