Dairy giant Parmalat has struck yet another out-of-court agreement linked to its collapse almost five years ago.

Parmalat is to recover some EUR310m (US$455.6m) from Intesa Sanpaolo after the company agreed to drop its claims against the Italian bank.

Parmalat, which went bankrupt in 2002, was embroiled in Europe's biggest case of corporate fraud after EUR4bn went missing from the company's accounts.

The company has settled with a slew of banking groups in recent months and is pursuing claims against other banks, including Citigroup.