Parmalat has denied reports it is looking to Santal

Parmalat has denied reports it is looking to Santal

Parmalat has denied reports that it is looking to sell its fruit-juice unit Santal.

Italian business daily Il Sole 24 Ore said in an unsourced report today (4 October), that Parmalat was mulling the sale of Santal for around EUR200m (US$264m). However, the Italian dairy and juice maker moved to deny the reports this morning.

"Parmalat communicates that the news published today on the Italian newspaper Il Sole 24 Ore related to the possible divestment of the Santàl assets is completely unfounded," the company said in a statement.

Parmalat's Santal-branded business includes juice, dairy and iced tea. It is one of four brands owned by the company, which include Lactis, Malù, and Kyr.

In July, French dairy company Lactalis secured a majority stake in Parmalat for EUR3.4bn.