RUSSIA: Danone sells Wimm-Bill-Dann stake
Danone has formed venture spanning Russia and parts of CIS with Unimilk
The sale, announced today (12 August), will see Danone sell its 18.4% stake in the business to Wimm-Bill-Dann for US$470m.
The deal will close once Danone gets competition approval in the CIS for its venture with Unimilk. Russia gave its clearance to the venture earlier this month.
The move is set to create a business that generates annual sales of EUR1.5bn (US$1.93bn) and spanned Russia, Ukraine, Kazakhstan and Belarus.
General Mills has appointed Danone executive Olivier Faujour to lead its operations in France, Benelux and Italy....
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