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Exclusive: France's Lactalis seeks arbitration over BRF deal - source

Reuters  |  SAO PAULO 

By Tatiana BautzerSAO PAULO (Reuters) - Groupe Lactalis SA has moved forward with arbitration against BRF SA, claiming it refuses to recognize tax and labor liabilities at several plants it sold to the French dairy maker three years ago, a source familiar with the matter said.Lactalis, through subsidiary Parmalat SpA, acquired 11 dairy factories from BRF for 1.8 billion reais ($576 million) in 2014. At the time, the companies agreed to set up an escrow account to cover potential pre-deal labor and tax contingent liabilities incurred by the factories.According to the source, Lactalis and ...

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First Published: Wed, August 09 2017. 17:13 IST