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.

Chase has a merger and acquisitions team located in Caracas, as well as operations throughout Latin America, in Bogota, Colombia; Santiago, Chile; Buenos Aires; Sao Paulo, Brazil; Rio de Janeiro; Mexico City; Panama City; and San Juan, Puerto Rico.

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