SOS to change name following rice sale
By: | 9 May 2011
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Spanish food group SOS has confirmed today (9 May) that it plans to change its name following the sale of its rice division to Ebro Foods.
A spokesperson told just-food today that the company will look to get shareholder approval to change the name to Deoleo at its general meeting on 9 June.
She said that following the sale of rice brand SOS, it wants to change its name in order to focus on its olive oil business. The deal is set to complete following competition commission approval which is expected in the next “few weeks”.
The company is set to receive a EUR20m capital gain from the sale of its rice division to Ebro Foods. The two companies agreed the sale for EUR205m on 1 April.
The sale is set to be ratified by SOS shareholders at the company’s general meeting.
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