JOINT PRESS RELEASE
Agreement between Parmalat and Banca C.R. Firenze (Intesa Sanpaolo Group)
Parmalat S.p.A. communicates that today agreements have been reached with Banca C.R. Firenze and its subsidiaries Centro Factoring SpA and Cassa di Risparmio della Spezia SpA (Intesa Sanpaolo Group) which settle the pending dispute related to the period prior to the insolvency declaration of the Parmalat Group (December 2003). As a result of these agreements, Banca C.R. Firenze and its aforementioned subsidiaries will pay to Parmalat SpA a total amount of €20,000,000.00 in exchange for Parmalat SpA abandoning revocatory actions it has already filed and any action or claim against the former Gruppo Cassa di Risparmio di Firenze.
Banca C.R. Firenze and its subsidiaries have waived the right to demand inclusion among the liabilities of the companies under extraordinary administration that are parties to the proposal of Composition with creditors of the claim arising from the payment made as a result of the settlement agreement and of any other claims that may arise from past transactions. Moreover, Banca C.R. Firenze and its subsidiaries waive any and all actions or claims against Parmalat SpA, Assumptor of the Composition with Creditors.
Milan, May 20th 2009
Parmalat Corporate Contacts:
Intesa Sanpaolo Corporate Contacts:
Last updated 20 May 2009 at 19:48