The milkman cometh.

As the smoke from the US$18 billion Parmalat accounting explosion began to clear, the Italian government's appointed company administrator Enrico Bondi launched a global corporate restructuring plan, which includes selling subsidiaries in 20 of the company's 30 countries of operation. The Italian dairy producer is expected to divest assets in Argentina, the Dominican Republic, Ecuador and Uruguay. Parmalat Brasil, the company's largest Latin American operation and source of 10% of Parmalat's total revenue, appointed a new board of executives to review whether to sell some or all of the company's Brazilian assets, which have a total debt of $2.5 billion.