Place the spinach in a large saucepan or stockpot with 1/2 cup water. Cook, covered, over medium heat until the leaves are wilted, about 4-5 minutes.
Drain in a colander and let cool.
Press or squeeze out the excess water from the spinach and finely chop. Set aside in a medium bowl.
In a saucepan, heat the Silk with the bay leaf to just below the boiling point and set aside.
In another saucepan, heat the olive oil over medium-high heat and saute the minced shallots for 2-3 minutes to soften. Sift in the flour and cook, stirring with a wooden spoon, over medium heat until the flour is lightly browned, about 2 minutes.
Remove from heat and let cool slightly.
Slowly whisk in the warm Silk and return the saucepan to the heat.
Bring sauce to a boil and reduce the heat to a simmer, whisking often to prevent lumps. Cook for 6-8 minutes until it reaches the consistency of thick cream.
Remove the bay leaf.
Mix in the spinach. Add the salt, pepper and nutmeg to taste.