Reuters: Bankruptcy News: Brazil dairy group LBR negotiating capital sale to Parmalat

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Brazil dairy group LBR negotiating capital sale to Parmalat Aug 22nd 2013, 14:08 SAO PAULO | Thu Aug 22, 2013 10:08am EDT SAO PAULO Aug 22 (Reuters) - Italian dairy group Parmalat SpA may buy a stake in bankrupt Brazilian dairy conglomerate Lacteos Brasil SA LBR, one of LBR's main shareholders said on Thursday. Monticiano Participações SA, an investment holding company, said in a written statement that LBR's talks would be exclusive with Parmalat, which is controlled by France's Lactalis, for a limited period. It gave no further information. LBR, partly owned by private equity firm Laep Investment Ltd, filed for bankruptcy protection under Brazilian law on Feb. 14. LBR previously announced the sale of $10 million of shares to bolster its capital against potential losses in key investments.

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