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Granarolo in Parmalat...

Granarolo in Parmalat takeover?

27 Jan 2005
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Chairman, Luciano Sita told Italian television that he is trying “to keep an important part of the Italian agricultural industry”.

27/01/05 Italian dairy company Granarolo has indicated an interest in a takeover of struggling chief competitor Parmalat. Chairman, Luciano Sita told Italian television that he is trying “to keep an important part of the Italian agricultural industry”. Sita is hoping to have a meeting with the Italian Agriculture Minister in the near future to discuss his plans, according to La Repubblica. Parmalat almost went bankrupt at the end of 2003 with a debt of $14 billion.

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