Italian food group Parmalat has said it has agreed a €105.8m (US$128.9m) bank loan to enable it to keep its milk factories in operation.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more


Parmalat said it had agreed the one-year loan with 20 creditor banks but said the amount was below the €150m that it had initially asked for, reported Reuters.


Parmalat filed for bankruptcy protection in December after revealing a billion-euro hole in its accounts.


Earlier this week the company’s Chilean operation filed for bankruptcy protection from creditors and has now been given 90 days by a Chilean court to find a strategic partner and come up with a plan for paying off the $51m it owes to creditor banks and suppliers. Under Chilean bankruptcy rules, the company cannot be declared bankrupt or have its assets frozen during that 90-day period, Reuters reported.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.