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Article: Parmalat trial opens.(Business)(Parmalat Finanziaria SpA)(Calisto Tanzi)(Brief Article)
- Article from:
- Feedstuffs
- Article date:
- October 3, 2005
- Author:
CopyrightCOPYRIGHT 2005 Miller Publishing Company, Inc. 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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A CRIMINAL trial was opened in Milan, Italy, last week for Calisto Tanzi, founder and former chair of Parmalat Finanziaria SpA, and 15 other people, including other former company executives--all of whom are charged in biggest-ever agribusiness fraud.
Meanwhile, Enrico Bondi, the government-appointed administrator who has reorganized the company as Parmalat SpA, has sold two additional non-core parts of the company: its bakery business for 19 million [euro] ($23.3 million) and its tourism unit, Parmatour, for 47 million [euro] ($57.7 million).
Parmalat collapsed in late 2003 after government regulators learned that it had been engaged in a scheme to hide ...