Nutrinveste is looking to sell its drink and food products unit Compal. According to sources close to the Portuguese food company, Coca-Cola and Portuguese brewer Central de Cervejas are among the three contenders who have made offers.

The sale is expected to be completed by the end of this year, sources added.

A separate source has told local reporters that a Spanish company is also in the race to acquire Compal.

An official source has told reporters, however, that the Nutrinveste has not yet made a final decision on selling Compal.