Olive oil giant Deoleo plans share capital reduction

Deoleo puts forward plans for share capital reduction.

Deoleo, the Spain-based olive oil supplier, has set out a plan to reduce its share capital by at least EUR300m (US$320m) as it looks to improve its balance sheet after another year of losses. The Carbonell oil owner said the reduction would be between EUR300m and EUR323m, with a nominal share price of EUR0.12 and EUR0.10.