(Bloomberg) -- Investcorp Bank BSC, the Bahrain-based private equity firm, is in talks with Spanish buyout firm Nazca Capital to buy its olive- and fruit-tree business Agromillora Group, according to people familiar with the matter.
Negotiations between the two investment firms are progressing and the sale could fetch as much as 200 million euros ($224 million), the people said, asking not to be identified because the deliberations are private. Nazca could also opt to invite other potential bidders into the talks, the people said.
No final decision has been made and talks could still fall apart, they said. A representative for Nazca didn't immediately return a call seeking comment. A spokesman for Investcorp declined to comment.
Agromillora, founded in 1986, is a supplier of genetically advanced plants. The company produces fruit trees and vines and olive trees for commercialization and develops new models to improve agricultural efficiency. Nazca acquired a stake in Agromillora in May 2013.
To contact the reporter on this story: Manuel Baigorri in London at mbaigorri@bloomberg.net. To contact the editors responsible for this story: Aaron Kirchfeld at akirchfeld@bloomberg.net, Amy Thomson, Elizabeth Wollman
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