Lactalis Buying Portion of Parmalat

Lactalis Buying Portion of Parmalat

March 22/Skagen, Norway/FactSet Flashwire -- Groupe Lactalis SA, a subsidiary of BSA International SA and ultimately owned by Défitrans SARL, agreed to acquire an additional 15.3% stake in Parmalat SpA from Mackenzie Financial Corp, Skagen AS and Zenit Asset Management AB for 742.4 million euros ($1.1 billion) in cash.

The transaction increases Groupe Lactalis SA's existing minority holdings in Parmalat SpA to a 29% stake. Under the terms of the agreement, Groupe Lactalis SA agreed to pay 2.8 euros ($4) cash per share sought in Parmalat SpA. Based in Collecchio, Italy. Parmalat SpA produces milk, dairy, yogurt, cream, fruit juices, desserts, tomato sauces, soups, snacks, bread and other food products.

From the March 23, 2011, Prepared Foods' Daily News
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