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Parmalat Crisis: Banks only too happy to book fees

Bank of America, Citigroup and Deutsche Bank have been in the spotlight for their dealings with Parmalat, but the list of investment banks that have made hefty fees from doing business with the scandal-hit group is longer.

Parmalat has been involved in considerable capital markets and M&A activity since being floated in 1990 through a reverse takeover of the Parmese dairy company by Finanzaria Centro Nord (FCN), a vehicle controlled by the Tanzi family.

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