date:May 24, 2012
The Italy-based firm, which famously collapsed in 2004 under significant debts and accusations of fraud, is set to complete the takeover of LAG by the end of July 2012 having agreed to pay the enterprise value of $904m (715m) for the firm.
Parmalat and LAG are essentially owned by the same company Belgium-based BSA International. This has led to suggestions from the Italian media that the purchase was merely a way of moving money between the subsidiaries.
The firm has denied this, instead d