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Deoleo says CVC Capital presented best offer

CVC Capital Partners moves closer to Spanish deal after bid that values Spain's largest food producer at €438 million

Deoleo SA Wednesday said private-equity firm CVC Capital Partners presented the best of several offers for a controlling stake in the Spanish olive-oil producer, in a bidding process completed last week.

CVC is offering €0.38 per Deoleo share, the company added in a regulatory filing, which compares with a €0.43-a-share closing price in Madrid's stock market Tuesday. The offer values the company at €438.8 million.

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