Madrid, June 2 - Spanish food company Natra said on Tuesday it has scrapped its plan to halve its stake in affiliate Natraceutical to 25 percent.
In a statement to the Spanish stock exchange regulator, Natra -- which currently has 50.4 percent of Natraceutical -- said the decision was part of an agreement reached with the world's largest chocolate maker, Barry Callebaut.
Natra had said in March that it would end June with a reduced stake in Natraceutical, which would cut its debt.
Natra is in the process of talks with Barry Callebaut to acquire the Swiss chocolatier's European consumer business, Stollwerck.
Negotiations are on track and scheduled to conclude by the end of June, Callebaut said in a separate statement, adding that the transaction is expected to be completed at the beginning of September, leaving Callebaut a minority shareholder of the combined European consumer business, Natra Chocolates.