Italian dairy giant Parmalat has completed the previously-announced sale of 100% of its Newlat subsidiary to TMT Finance.
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
“We completed the sale of Newlat yesterday (28 May) to comply with an order from the antitrust authority. This was required as a condition for clearing the Eurolat acquisition,” a spokesperson for the company told just-food.
The disposal took place for a token consideration of EUR1 (US$1.56).
Inter-company accounts worth around EUR4.6m were repaid prior to completion, generating cash flow for the Parmalat “of a like amount”.
With this transaction, Parmalat will offload a total of approximately EUR36m in debt and amounts payable under leases, based on figures of 31 March.

US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataNewlat operates the Matese and Torre in Pietra dairy brands.