Italian dairy company Parmalat SpA (PLT.MI) Friday said it has clinched four new deals with banks to settle legal claims related to its 2003 bankruptcy, worth a total of EUR105 million.

Under the terms of a legal settlement reached with Deutsche Bank (DB), the bank will pay Parmalat a total of EUR76.5 million in return for it abandoning any existing or future claim.

In another deal with Banca Popolare dell'Emilia Romagna (BPE.MI), Parmalat will get EUR12.5 million to settle all pending disputes.

In a separate deal with UBI Banca (UBI.MI), Parmalat will receive EUR11 million to settle all the outstanding claims, while in another agreement, Banca Popolare di Vicenza will pay Parmalat EUR5.1 million.

The four agreements are the latest in a string of settlements related to Parmalat's 2003 bankruptcy.

The company crumbled under EUR14 billion of debt, the victim of massive fraud allegedly perpetrated by its former managers.

The new Parmalat, which was relisted in 2005, is seeking damages in dozens of cases against its former bankers and auditors in Italy and the U.S. The banks and former auditors have always denied wrongdoing.

Chief Executive Enrico Bondi has so far recouped about EUR1.8 billion in proceeds from legal actions.

-By Giada Zampano, Dow Jones Newswires; +39 06 69766920; giada.zampano@dowjones.com

(Luca Di Leo contributed to this story)
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