Capitalia, the largest shareholder in Parmalat, has more than trebled its money from the sale of its 5% stake in the resurgent Italian dairy business, which the bank received in a debt-for-equity swap two years ago.

Capitalia this morning sold about 85 million shares in Parmalat, a 5.2% stake, raising €263m ($354m), just eight days after three investment banks reached a settlement with the business regarding their role in its collapse and subsequent bankruptcy.