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Article: Parmalat talks of fresh bank loans in new year.
- Article from:
- Financial News
- Article date:
- December 30, 2003
CopyrightCOPYRIGHT 2003 Financial News Publishing Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Vivek Ahuja
Parmalat, the Italian food group engulfed in a fraud scandal, says it is confident of securing new credit lines from banks early in the New Year and may file for bankruptcy protection in other countries. It filed for protection in Italy last week.A source close to the new management at Parmalat said: "Parmalat has enough working capital to take it into January, and the company will have negotiated new lines of credit by early 2004."
New accountants PricewaterhouseCoopers is currently assessing how much cash and debt is within the group and how much cash is retrievable, and Lazard and Mediobanca are expected to complete a review of ...