Newlat Group SA (Newlat Group) of Switzerland agreed to acquire 6.473 mil ordinary shares or 46.237% stake in Centrale del Latte d'Italia SpA (CLI), a Turin-based manufacturer of fluid milk, from Lavia - Societa Semplice and Finanziaria Centrale Del Latte Di Torino SpA, for a total EUR 17.495 mil (USD 19.325 mil), in a privately negotiated transaction. The consideration was to consist of EUR 1 (USD 1.105) per share or a total value of EUR 6.473 mil (USD 7.15 mil) in cash plus EUR 11.022 mil (USD 12.175 mil) paid in Newlat Food SpA's ordinary shares. Concurrently, Newlat Food intended to lunch mandatory tender offer for the remaining 53.727% interest in CLI. Originally, Newlat Group signed a letter of Intent {LoI} to acquire an undisclosed majority interest in CLI.