Südzucker AG successfully placed 14% of Ebro Puleva with investors
Südzucker AG Mannheim/Ochsenfurt, Mannheim, Europes largest sugar producer, has successfully placed 14% of Ebro Puleva SA with institutional investors. A total of 21.8m shares were offered by Südzuckers subsidiary Saint Louis Sucre in an accelerated bookbuilt offering. The offered shares represent Südzuckers entire holding in the Spanish food company.
The disposal of the Ebro Puleva shares is another important step in Südzucker's strategy to focus on the core business with full control. The funds will be available for further growth within the group's expanding specialities business.
The shares were sold at a price of EUR 9,00 per share, amounting to 196 mn EUR. Deutsche Bank was sole manager of the transaction.