A leading businessman, tipped to become Parmalat’s interim CEO, has advocated an aggressive expansion strategy but a Nomura analyst cast doubt on the M&A prospects of the Italian dairy firm.
Parmalat has been awarded €25m from Banca Popolare di Milano as
part of its ongoing fight to recover money from financial
institutions allegedly implicated in the firm's collapse.
A Milan banker linked to the collapse of Italian dairy firm
Parmalat has been found dead, after disappearing on his way back
from a meeting of conservative Catholic group Opus Dei.
A new European Court of Justice ruling should provide Bank of
America with a degree of comfort over its recent travails with
Italian dairy giant Parmalat.
Parmalat's profit before interest and tax rose 18.4 per cent in the
first two months of 2006 to € 45 million, with predictions that net
debt would remain stable over the year.
Parmalat's chief executive Enrico Bondi has pointed the finger at
the company's creditors, accusing them of having knowledge of the
disgraced dairy giant's finances.
Today's board meeting at Parmalat, the first since Enrico Bondi was
appointed as chief executive last week, will help to determine
which direction the Italian dairy giant goes from here.
The trial of Calisto Tanzi, founder of scandal-hit Italian dairy
giant Parmalat, commences today amid charges of false accounting
and share price manipulation.
Parmalat has sued banks JPMorgan Chase and Unicredito Italiano for
€4.4 billion for their roles in the sale of Parmalat bonds issued
from 1997 through 2001.
Stricken Italian firm Parmalat, still being investigated for fraud,
has sold its loss-making North American Bakery Group to private
equity firm Catterton Partners, reports Chris Mercer.
Parmalat, the Italian dairy company which has been in the hands of
the administrators since collapsing with massive debts last year -
has continued to take legal action against a number of leading
financial institutions in a bid to...
Disgraced Italian food giant Parmalat is suing Deutsche Bank for
€17 million, which it claims it was ordered to repay two weeks
before it plunged into bankruptcy.
Stricken Italian dairy giant Parmalat, which has operations in
Romania, Hungary and Russia, has come up with a plan that will see
the many creditors offered stock.
Despite Italian food giant Parmalat's financial crisis, its
divisions in both Romania and Hungary continue to operate. Indeed,
Parmalat Hungary is expecting that in the run up to accession,
production will increase in response...
Parmalat representatives from across Europe will meet today to
discuss the measures that the new management will take to help its
distressed units. Trade union leaders in Hungary claim that the
Eastern European country's unit...
Italian food group Parmalat said on Monday that it had a net debt
of €14.3 billion ($17.6 billion) in September 2003, almost eight
times the figure given by former managers of the troubled group.
The collapse of Italian dairy giant Parmalat -and revelations of
massive and widespread fraud - has been felt throughout the world,
not least because the Parma-based group was such an international
player. In central and eastern Europe,...
There is a defining issue for dairy giant Parmalat that has
virtually nothing to do with fraud. If it lives to trade another
day, it will be because it hung on to its suppliers.
An emergency decree passed late last month by the Italian
government in a bid to save dairy giant Parmalat from collapse
looks set to win support from the European Commission on the back
of guarantees that there will be no state bail-out...
As the scandal surrounding Italy's food and giant Parmalat deepens,
Berlusconi's government rustles up emergency measures to tackle
'Europe's Enron', with a strategy to save jobs and pay the
suppliers.
Italian food group Parmalat has been busy this week. Not only has
it opened its first bottled water bottling plant in the Canadian
province of Quebec, it has also begun legal proceedings against
Agrinove over an alleged copyright...
Italian food group Parmalat said on Tuesday it would spend a
maximum of 100 million euros ($89.13 million) if it bought Danone's
Galbani unit while a financial partner would take a majority stake
in the firm.
Italian food company Parmalat this week announced the creation of a
new organisational structure to focus on strengthening the
Company's operation in North America.