Sources: Iberconsa, Pescanova an ‘ideal match’; management would prefer PE

The likely upcoming sale process for Portobello Capital’s stake in Grupo Iberica de Congelados (Ibercosa) will attract a lot of trade and private equity interest, with the Madrid, Spain-based  private equity (PE) investor in a strong position, said one banker.

According to one source, Gorjan Nikolik of Rabobank, investors should look at unifying Ibercosa and Grupo Nueva Pescanova. However, Nikolik acknowledged the issues with a move like this. Other sources said this is not likely to be a move the management of Ibercosa is likely to want to see, at least in the short-term.

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