3 March 2009 - Shares in Spanish food company Natraceutical rise 2.7 percent to 0.38 euros, lifted by the news that parent Natra's plans to halve its stake in the division do not include selling shares in the stock market, traders say.
Natra said it will reduce its 50 percent stake by half, either through a sale to a strategic investor or by distributing the shares among its own shareholders.
The stake cut is part of Natra's agreement to join forces with Barry Callebaut, the world's largest chocolate maker.
"It is crucial for Natraceutical's share price that Natra does not plan to sell the 25 percent in the stock market, particularly given market conditions. Otherwise we would have seen sellers in there this morning," a Madrid-based trader says.