Lactalis takes Parmalat stake
In 2003, Parmalat grabbed Europe's business headlines after collapsing with a EUR14bn hole in its accounts. It was the continent's biggest bankruptcy. Now, following Lactalis's investment in the business, the Italian dairy giant is once...
Three funds have entered into an agreement to sell their 15.3% stake in Parmalat to Lactalis because their plans to elect a "highly-qualified board" have been "compromised".
Lactalis today (22 March) announced it has entered an agreement to buy a further 15.3% stake in Italian dairy and food manufacturer Parmalat, increasing its shareholding to 29%.
Ferrero has remained coy on reports that it may be considering investing in Italian dairy Parmalat as part of a push to keep the company in Italian hands.
French dairy group Lactalis has acquired an 11.42% stake in Italy-based rival Parmalat through an equity-swap deal.
Three Parmalat shareholders have "strongly denied" they are in negotiations with Lactalis to sell their 15.3% stake in the Italian dairy manufacturer. The international funds at the centre of the…