A Brazilian appeals court says private arbitration at the Brazil-Canada Chamber of Commerce is to decide whether French company Groupe Lactalis can acquire Brazilian dairy Itambe Alimentos. The decision follows a dispute that arose when co-operative CCPR bought 50% of Itambe from former joint owner Vigor Alimentos, itself owned by Mexican company LalaGrupo Lala, to control the whole company. Soon afterwards CCPR sold 100% of Itambe to Groupe Lactalis, but Grupo Lala claims negotiations for the deal broke a shareholder agreement concerning Itambe.
A Brazilian appeals court says private arbitration at the Brazil-Canada Chamber of Commerce is to decide whether French company Groupe Lactalis can acquire Brazilian dairy Itambe Alimentos. The decision follows a dispute that arose when co-operative CCPR bought 50% of Itambe from former joint owner Vigor Alimentos, itself owned by Mexican company Grupo Lala, to control the whole company. Soon afterwards CCPR sold 100% of Itambe to Groupe Lactalis, but Lala claims negotiations for the deal broke a shareholder agreement concerning Itambe.