date:Apr 10, 2014
rading at an enterprise value of 9.5 times 12-month core earnings, a premium of 12 percent over the Spanish food sector average, according to Thomson Reuters Eikon data.
Banking sources said CVC's offer was also attractive because it included recapitalisation and loans to help the company meet big debt maturities in the coming two years.
Deoleo ran into problems in 2009 after years of debt-fuelled acquisitions. It has since been recapitalised, and it has cut its debt to around 500 million euro