Blog: Danone to up stake in Moroccan dairy Centrale Laitière
Dean Best | 3 November 2014
Danone announced this afternoon (3 November) it would buy more shares in Centrale Laitière, taking its stake in the Moroccan business from 69.1% to 90.9%.
The French food giant is to pay EUR278m for the additional shares in a business in which it became the majority shareholder last year.
Danone has held a stake in Centrale Laitière since 2001 and sells dairy products in neighbouring Algeria and Tunisia.
The deal follows Danone's announcement on Friday of an agreement to take a 25% in Chinese infant formula producer Yashili International Holdings.
These two investments are further indications of Danone's interest in expanding in emerging markets.
The Yashili deal was welcomed by analysts who had been arguing Danone's M&A strategy should focus on smaller transactions, rather than the major transaction that has been the subject of a number of press reports - a move to buy US infant formula group Mead Johnson.
This week, Danone will take an in-depth look at the Yashili transaction and the speculation surrounding Mead Johnson.
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