Corporación Financiera Alba, through its investment vehicle Deyá Capital managed by its venture capital manager Artá Capital, has reached an agreement to sell its 16.8% stake in the capital of Alvinesa Natural Ingredients together with that of other shareholders of the company. company. The buyer is the European ICG fund.
This has been detailed this Thursday by the investment arm of the March group in a statement sent to the National Securities Market Commission (CNMV) in which it explains it has not provided more information about the buyer or the terms of the agreement.
It has explained that the sale is subject to the buyer having the corresponding authorization contemplated in the legislation on the legal regime of capital movements and foreign transactions and on certain measures to prevent money laundering. When this authorization is obtained, the final price of the operation will be adjusted and Corporación Financiera Alba ensures that it will then report on the economic conditions of the sale.
Freeman, in alliance with Torreal, Goldman Sachs and Riverside were the finalists. Rothschild has been the coordinating bank of the process.
Alvinesa is a company in Daimiel (Ciudad Real) dedicated to the management of wine by-products to manufacture natural colorants and antioxidants. Last January, it announced the construction of a plant for the production of ingredients with high added value of grape derivatives in which it will invest five million euros.
Corporación Financiera Alba lost 95 million euros in 2020, compared to the 179 million it earned a year earlier, due to the lower results of some investees whose activity has been significantly reduced by the coronavirus crisis.
During that year, it increased its stake in CIE Automotive to 12.73% and allocated 29.6 million to different financial investments, but it also sold 12.06% of Bolsas y Mercados Españoles (BME), two properties in Barcelona and two plants of offices in Madrid, and the 7.5% it owned in TRRG Holding, formerly Ros Roca Environment.
At the end of 2020, it also owned 5.4% of Naturgy; 14% of Ebro Foods; 19.3% of Acerinox; 13% Viscofan; 12.7% of CIE Automotive; 11% from Euskaltel, 10.5% from Indra, 25% from Parques Reunidos and 6.3% from Verisure.