SPAIN - Arturo Cantoblanco courts 3i's Provimar

Grupo Arturo Cantoblanco is reportedly negotiating the acquisition of Provimar, a service provider to cruise ships and duty free stores, from 3i for EUR 18m. Property of the private equity firm for five years, Provimar reported a turnover of EUR 100m last year. If the deal goes ahead, the profits of Grupo Arturo in the catering sector will ascend to about EUR 150m. Before last summer, Arturo broke the negotiations with Permira for the purchase of the supermarket chain DinoSol (formerly Aholds), although it continues with the idea to enter that sector. The acquisitions are part of a plan aiming to expand the group and subsequently float it on the stock market. To speed up the process, the group is reportedly considering the possibility of joining forces with a private equity partner next year.