ITALY: Lavazza has exclusive rights to consider Carte Noire buy | Progresiv
Italy's Lavazza has exclusive rights to consider buying the European Carte Noire business of U.S.–based Mondelez International, the two companies said. The exclusivity is based on contractual agreements between the two companies. 
Mondelez proposed the sale of the Carte Noire coffee brand instead of two smaller marques to soothe European competition concerns about a merger of the U.S. company's coffee business with Netherlands-based D.E. Master Blenders 1753.
Sources told Reuters Lavazza had offered more than 600 million euros for the L'Or and Grand Mere brands and was raising cash for the acquisition. But those plans changed with Mondelez's new proposal for Carte Noire.
"On the basis of contractual agreements Lavazza will have the opportunity to evaluate exclusively the new proposal," Lavazza said in a statement sent to Reuters.
A spokesman at Mondelez International confirmed Lavazza retained exclusive rights to consider buying Carte Noire under the new option proposed to the European Union's competition watchdog.
A source close to the matter said Lavazza had "put aside cash for acquisitions and now is looking closely at the possibility to buy Carte Noire".
Lavazza agreed to sell down more than half its stake in US rival Keurig Green Mountain for about $624 million, Keurig said. It was not immediately clear how much Carte Noire would be worth in a sale. (www.reuters.com)
