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Purchase of Parmalat on hold

Dairy producer Alföldi Tej Kft has received an extended deadline until September 15 to put up the money for the purchase of Parmalat Rt, currently under liquidation. The purchase has not been signed because Alföldi Tej has not been able to come to terms with the creditor Hungarian Development Bank (MFB) Rt. On August 5, Alföldi Tej increased its capital form Ft 20 million to Ft520 million and started negotiations with MFB about providing 60-70% of the acquisition price, which is estimated to be between Ft 1.67 billion to Ft 1.8 billion, but has not been officially disclosed. Alföldi Tej is the most significant milk supplier for Szeged based Sole Rt, which produces about 250 million liters of milk a year. (NG 4) E.C.