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Parmalat main owner files complaint against Amber in buyout dispute
February 8, 2017 / 4:54 PM / 10 months ago

Parmalat main owner files complaint against Amber in buyout dispute

MILAN, Feb 8 (Reuters) - Parmalat top shareholder Sofil said on Wednesday it had filed a complaint with Italian market watchdog against activist investor Amber Capital over alleged incorrect information in a dispute regarding a takeover of the diary company.

French group Lactalis, which won control of Parmalat in 2011 amid failed efforts in Italy to mount a domestic counter bid, has launched an offer on the 12.26 percent of Parmalat it does not already own with the aim of delisting the group.

Lactalis, through investment vehicle Sofil, has offered to buy Parmalat shares at 2.8 euros each.

On Tuesday Parmalat’s board said the takeover price was fair.

Amber Capital said last month the buyout price undervalued the Italian diary company, adding it would not tender its 3 percent stake.

Reporting by Francesca Landini

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