10 May

SOS Cuetara to issue 200 mln euros of shares to plug hole

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 […]

02 May

SOS Cuetara’s top execs fired, shares suspended

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 […]

09 Apr

SOS Cuetara to sell Dante olive oil brand for EUR34m

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 […]

03 Apr

SOS Cuetara to sell Dante Olive Oil and Minerva Oli to Mataluni

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 […]

05 Mar

sos cuetara targets 150 million eur from disposals

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 […]