Parmalat Completes Acquisition of Lactalis American Group

The amount paid will be integrated, in the terms already stated in the agreement, by an amount equal to the net financial position of the companies acquired on June 30, 2012 and, in the event of a price adjustment (increase or decrease of the price), on the basis of the EBITDA achieved by the acquired companies in the 2012.

9 Jul 2012 --- Parmalat S.p.A. completed through its subsidiaries Parmalat Belgium SA and LAG Holding Inc. (a company newly established) the acquisition, from Lactalis Group, of the companies Lactalis American Group Inc., Lactalis do Brazil - Comercio, Importaçao e Exportaçao de Laticinios Ltda and Lactalis Alimentos Mexico Sociedad de Responsabilitad Limitada, communicated to the market on May 22, 2012, with a total disbursement of US$ 904 million and the subscription of all commercial agreements related to the acquisition.

The amount paid will be integrated, in the terms already stated in the agreement, by an amount equal to the net financial position of the companies acquired on June 30, 2012 and, in the event of a price adjustment (increase or decrease of the price), on the basis of the EBITDA achieved by the acquired companies in the 2012.

To secure its payment obligations, in the event of a decreasing price adjustments, the Seller has assigned to Société Générale, as paying agent, irrevocable instructions for the payment in favour of the Buyer, of a maximum amount of US$ 144 million, on the basis of the revolving credit line available for Lactalis Group.