Parmalat is negotiating to buy a stake in the Brazilian Lacteos Brasil, the same company that in 2011 was ready to challenge Lactalis, which later became the majority shareholder, to conquer Collecchio.
The news comes from South America where, after the rumors reported by the newspaper Valor Economico, Monticiano Partecipacoes, shareholder of the Brazilian company, admitted that there are exclusive talks with Parmalat even if at the moment there is no binding offer.
LBR (Lacteos Brasil) – the company said – has granted Parmalat exclusive rights for a limited period for preliminary talks which may or may not evolve into an operation with LBR. According to Valor Economico, the operation could be worth around 300 million euros.
For the Brazilian group it would be a bailout since in February it had asked for a protection plan from creditors and started a corporate restructuring. The stories of Parmalat and Lacteos Brasil have crossed paths many times in recent years. Not only in 2011 the company aimed to take over the Italian group but the very genesis of the Brazilian company takes off from the ashes of the old Parmalat Brasil.
Parmalat shares rose by 0.8% to 2,474 euros just a few minutes after the closing.
