Parmalat examined the first half results of Lactalis American Group, Lactalis do Brazil Comercio, Importaçao e Exportaçao de Laticinios Ltda and Lactalis Alimentos Mexico Sociedad de Responsabilitad Limitada, noting a net financial position of 53 million. In this way, the purchase price for the intercompany transfer of Lactalis USA to Parmalat will increase from 904 million dollars to 957 million. The transaction envisaged automatic price adjustment mechanisms linked to the financial position and gross operating margin. New adjustments could therefore take place at the end of the year when the Ebitda of the American subsidiary will be announced.
The liquidity of the Emilia-based company, which the former CEO Bondi had left to French buyers in 2012 with a treasury of 1,5 billion euros, thanks also to the compensation actions won against the banks, now drops to 780 million euros. Parmalat independent directors Umberto Mosetti and Antonio Mastrangelo reiterated their opposition to the operation, which will bring a large part of Parmalat's liquidity into the coffers of the Besnier family, owner of Lactalis, voting against.
Also today, the unions announced that they had reached an agreement with the Ministry of Labor for the 93 redundancies of the factories closed by Parmalat. The workers will be reintegrated into the Parmalat-Lactalis system or in other companies, others will be placed in new jobs and, in the meantime, will benefit from protection.
