(updating with further details, including 2007 proforma figures)
MADRID (Thomson Financial) - Ebro Puleva SA. is studying the sale or stock
market listing of its sugar business, the Spanish foods group said in a
statement.
The sugar unit could be sold as a whole or in part, it said, while noting
that the operation could be abandoned depending upon market conditions.
The move will be proposed to shareholders at Ebro Puleva's AGM June 9.
If the sale or flotation of the group's sugar business was to go ahead,
proforma revenue in the full year to Dec 31, 2007 would stand at 2.031 billion
euros, down from a reported 2.685 billion euros, and EBITDA was 226 million
euros compared to a reported 306 million.
Total debt would be reduced "significantly", Ebro said.
Ebro will report first quarter to March earnings later this morning with a
conference at 12:00 p.m.
Trading in the shares of Ebro Puleva was suspended ahead of the
announcement, and will be lifted at 10:15 a.m., stock market regulator CNMV
said.
The shares last traded up 0.14 euros at 13.90.
tfn.europemadrid@thomson.com
ped/tr/ped/tr/ejb
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