Palma: court halts four-point-six-million-euro Carob sale

Carob’s planned sale to Promorent for four point six million euros has been halted in Palma. On 18 September, a Palma commercial court accepted objections from the Camp Mallorquí co-operative and suspended the first award process. Carob processes carob and is in insolvency proceedings.

The court will now examine Camp Mallorquí’s objections and has opened a new period for the interested parties to make their submissions.

Camp Mallorquí had offered four point one million euros. Its manager, Aldo Castelli, said the co-operative’s case rests on its greater experience in the sector, technical capacity and knowledge of the business, despite the lower initial offer.

The co-operative says Promorent works in property and has no connection with, or experience in, the primary or agri-food sectors.

Castelli said the aim is to prevent Carob from closing and losing an asset in the traditional carob sector. During the pre-insolvency stage, he said, Camp Mallorquí had supplied raw material to help the company survive.

Topics: Court cases · Economy · Palma

Source: Europa Press / Mallorca.com