Dairy company Alföldi Milk Kft is expected to buy the assets of Parmalat Hungaria Rt from liquidators, according to the Budapest Business Journal.

An agreement is expected to be reached between the liquidator,  TM-Line Kft, and Alföldi Mby September 8, according to liquidating agent Ferenc Somogyi and Alföldi Milk CEO Tibor Mélykúti.

The brand name 'Parmalat' will probably remain in use, conditions are to be defined in their contract. The price of the purchase is yet kept secret, certain calculations, however, estimate a price of 1.67bn forints (US$8.5m) to 1.8bn forints, the paper said.

Alföldi Tej produces 250 million litres of milk a year, and aims to keep the Székesfehérvár workers of Parmalat, applying for job-retaining subsidies.