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.
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.
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.
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...