Spain

Incarlopsa denies rumors regarding the $1.2 billion sale deal with a Chinese investor

Mergers & Acquisitions

Sources quoted by Reuters say Chinese investment company Kam Fung is interested in acquiring Incarlopsa for 1 billion euros ($1.2 billion). The Spanish meat producer has denied that the Chinese group is about to buy them, according to El Pais.

Posted on Apr 17 ,10:52

Incarlopsa said in a statement that "it receives and listens to all those who are interested in the company" and that "the information regarding the sale or value of the company can only be understood as pressure maneuvers to influence the position of the shareholders."

As reported by Reuters, the Chinese private equity investment firm, Kam Fung Group, is analyzing the acquisition of a 95% stake in the Spanish company.

Incarlopsa is a family owned business based in Tarancón (Cuenca) and it focuses its activity on the processing of fresh pork products, Serrano ham, Iberian sausages and cooked sausages.

Incarlopsa president Emilio Loriente told Reuters that there is interest from foreign investors in buying the company but added that the Incarlopsa's shareholders are not actively seeking to sale the company.

The Spanish producer is set on increasing production by 75% in the next four years and wants to export part of it to Asian markets.

As authorities in China started to ease the tough currency controls that were imposed in 2016 for limiting capital flight, domestic investors such as the Kam Fung Group are now looking into new acquisitions in foreign countries.

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