Spain’s Natraceutical in Brazil expansion deal

MADRID, Oct 7 (Reuters) – Spanish food group Natraceutical (NATE.MC) said on Thursday it had made a deal with Brazil’s Bio Group to develop its Forte Pharma food supplements brand in that country, an agreement which may allow parent Natra to cut debt.

Natra, with market capitalisation of 96.38 million euros ($131.6 million), has an option to sell its 47 percent stake in Natraceutical via a share swap to Bio Group’s parent Davene at 0.43 euros per share, cutting debt “significantly”, the statement said.

It is also contemplating the possibility of a Brazilian listing for Natraceutical.

Davene also has the option to buy Natra’s around 4 percent stake in France’s Naturex (NATU.PA) at 35.3 euros per share.

Shares in Natra and Natraceutical, suspended earlier, will reopen after 0830 GMT. They closed on Wednesday at 0.369 euros and 2.030 euros respectively. ($1=.7322 Euro) (Reporting by Elisabeth O’Leary; Editing by Hans Peters)


Published by Hildete Vodopives

Hildete de Moraes Vodopives is founder of Brazil Global and of the Harvard Strategists Group. She has a PhD in Economic History and advises companies and investment agencies in international business development.She served as Corporate Relations Director and later, on the board of the Brazilian Investment Analysts Association (APIMEC).

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