The control of the holding of Italian dairy and food multinational Parmalat
is reported to be shifting to the younger generation of the founding Tanzi family,
while reports persist that Parmalat, despite denials, is still interested
in Danone‘s Galbani dairy operations

According to national news weekly Il Mondo, founder Calisto Tanzi and his brother
and sister are passing their shares to their children, with three children of
Calisto Tanzi set to own 52.2 % of Coloniale, the family holding which controls
Parmalat, while the two children of Tanzi Calisto’s brother Giovanni and Annamaria
will have 13.37% of shares.

The report was the latest in industry circles of pending changes at Parmalat.
Despite the changes, however, founder Tanzi Calisto is expected to remain the
guiding force of Parmalat, a company he inherited from his father in 1961 and
build into one the world’s leading food companies (annual sales €7bn) with
growing operations in the Americas, Europe and Asia.

As for the Galbani case, financial daily Il Sole 24 Ore reported today [Friday] that recent denials amount to "half confirmation." The paper said
Parmalat is interested in Galbani but put off any offers for the time being
on account of the current high asking price (no figure given) and its desire
not to aggravate its indebtedness in a vast manner.

By Hilmi Toros, correspondent