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July 28, 2016

Lactalis silent on new Albalact shares bid reports

France's Lactalis group today (28 July) declined to comment on reports in the Romanian media it had offered RON342m (US$85m) to buy up the remaining shares in its majority-owned Romanian dairy group Albalact.

France’s Lactalis group today (28 July) declined to comment on reports in the Romanian media it had offered RON342m (US$85m) to buy up the remaining shares in its majority-owned Romanian dairy group Albalact.

In January, Lactalis signed an agreement with Albalact shareholders to acquire a stake of more than 70% in the firm.

However, a Lactalis spokesperson told just-food today the group “had no information to report at present”.

Under the terms of the agreement announced in January, Lactalis said it would pay the equivalent of US$98.2m for the 70% stake, minus a contractually agreed adjusted net debt on the last day of the month before the month in which the conditions of the deal were finalised.

Romania’s Competition Council confirmed earlier this month that it had given the green light for Lactalis’ takeover of Albalact.

Lactalis had a presence in Romania before the acquisition deal, owning the local dairy business LaDorna, which it acquired in 2008.

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