Wednesday, June 14, 2017

Force is offered to Danone, for Lactalis and Lala, say sources

Sao Paulo-the Force is being offered to about half a dozen companies, including for Lactalis and Danone, as the owners of the dairy producer trying to raise funds to pay fines and other debts, two sources with knowledge of the matter said on Tuesday.
The process of selling, that Santander Brazil and Bradesco are advising, is in the initial stage, said the sources, who did not detail the terms of the transaction.
In addition to the two French companies, other companies that were invited to analyze the business include the Mexican group Lala and Emmi in Switzerland, said the sources.
So far no price or deadline for offers has been set, and it is not certain that a deal will be reached, said the sources. The Press Office of Danone was unavailable for comment.
J&F, Lala, for Lactalis, Emmi and the banks commented on the matter immediately. The sources requested anonymity to speak freely about the process.
The plan comes two weeks after the J&F, the holding company that controls the Force, accept pay a $10.3 billion reais reais in a leniency agreement.
The J&F also needs money to pay about 14 billion reais in loans that come due in the next 12 months, Reuters reported in early June.
Members of the Baptist family, the J&F, closed deals after they admitted bribing politicians to win advantages for their companies, including JBS.
Exame - 13/06/2017
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