Dutch food group Wessanen NV said on Wednesday it had reduced its stake in Italian drinks company Campari to 1.8 per cent from five per cent, selling the shares at 31 euros each. Wessanen sold its stake after Deutsche Bank and UBS Warburg, global coordinators of Campari's initial public offering, partially exercised their greenshoe option, the company said. Ahead of Campari's market debut on July 6, Wessanen had already sold a 30 per cent stake in Campari. Including Wednesday's deal, Wessanen's total gross proceeds from the sale amounted to 300 million euros, resulting in a capital gain of more then 100 milion euros. Wessanen said it would use the proceeds to focus on healthy, natural foods and specialties for the health and quality-conscious consumer.
