NEW YORK - Chase Manhattan Bank said it advised Parmalat, an Italian milk producer, in its winning bid for the Venezuelan state-owned dairy company, Indulac.

To obtain control of Indulac, Parmalat made an investment of $50 million, Chase said. Besides Parmalat, the other prequalified bidders were Nestle de Venezuela, Canada's Lactel, and Paicosa of Venezuela.

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