04 May 1999 ARGENTINIAN FUND CHASES URUGUAY DAIRY THE Argentinian investment fund Exxel Group is seeking to take control of Conaprole, Uruguays biggest dairy producer. Exxel wants to

modernise Conaprole and create a regional dairy products brand to compete with foreign groups. Frances Danone have been building up its presence in the region. Exxel is planning to spend

about $300 million (£186m) on the acquisition and then another $130m on a modernisation of the target companys production and distribution. _ * Financial Times 04/05/99 page 8 _