A Chilean investment group is reported to be nearing a deal to acquire the local unit of troubled Italian food group Parmalat.
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“The operation may be closed as early as this week,” a source from investment group Inversiones Bethia told the Associated Press.
The source said Bethia would take control of 51% of Parmalat’s Chilean operation through a capital increase operation.
Parmalat’s Chilean unit has struggled to pay its suppliers, and around 200 local milk producers have stopped supplying the company until they receive payment, reported AP.
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