Troubled Italian food group Parmalat has denied reports that it plans to sell its Spanish dairy unit Clesa.
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The company said Clesa was part of its core business; “therefore any reference concerning an alleged negotiation for the sale of Clesa SA is unfounded,” Parmalat was quoted by Reuters as saying.
The company entered insolvency late last year after a multi-billion-euro hole was discovered in its accounts. It has since been selling off non-core businesses in a bid to cut debt.
