Milan

Parmalat asks Lactalis for $144-mln discount in Lag unit buy

Discount request follows pressure from Consob, prosecutors

Parmalat asks Lactalis for $144-mln discount in Lag unit buy

Milan, May 10 - Parmalat has asked France's Lactalis, with whom it shares a parent company, for a $144-million discount in the agreed intra-group purchase of Lag, the American unit of the French company, for which the price tag had been set at 957 million euros. Both Parmalat and Lactalis are controlled by BSA International. The request follows price-revision guidelines that are included in the sale contract agreement, and took place in the wake of pressure from Italy's stock-market regulator Consob as well as prosecutors, amid concern the sale may be a way of transferring wealth from the Italian unit to Lactalis to the French one.

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