Spain Gives Nod to Nueva Rumasa's Acquisition of Parmalat's Clesa

According to Spain's business media, the national competition authority has given food group Nueva Rumasa the green light to acquire Clesa, the Spanish subsidiary of Italian dairy firm Parmalat.

The acquisition is valued at 188 million euro. Clesa, which registered a turnover of 300 million euro in
2006, is expected to boost the sales of Nueva Rumasa's food division to more
than 700 million euro this year, add the media reports.Parmalat announced its
intention to sell Clesa to Nueva Rumasa last month.