JAPAN: Danone tight-lipped over Yakult stake talks
Danone first took a stake in Yakult in 2000
The talks are understood to be based on a premise that Yakult will retain its independence, Reuters reported today (9 November).
In May, Yakult reportedly said it did not want top stakeholder Danone to lift its shareholding on concerns it might affect its independence. The French food giant was said to be in talks with Yakult to increase its stake from 20% to around 28%.
According to Reuters, Danone first took a stake in Yakult in 2000 and the two firms entered into a strategic agreement in 2004. Under the terms of that deal, Danone could not lift its stake to more than 20% for five years.
A spokesperson for Danone declined to comment on the reports and Yakult could not be reached for comment.
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