10 more days for Parmalat-decision
Monday, June 13, 2005, 00:00
The only bidder for the Parmalat Hungaria Rt tender, milk producer A-Tej Kft yesterday negotiated TM-Line Kft, put in charge of the liquidation process, about the price of the parts to be sold. After representatives of A-Tej Kft were told the guiding price, they asked for 10 days of extension for decision ? daily business Napi Gazdaság reported. Negotiations were needed because the price offered in A-Tej Kft?s tender did not fulfill TM-Line?s expectations. The latter marked a price of Ft 8 billion. 60% of A-Tej is the property of Parmalat?s suppliers, while 40% is in the hands of Italian Catone logistics company. In 2004 Parmalat Hungária had sales Ft 5.591 billion and loss of Ft 466 million.