French food giant Groupe Danone paid US$33.2m for a 4% shareholding in Russian dairy company Wimm-Bill-Dann, at its IPO of ADS on the New-York Stock Exchange.
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With a 2000 turnover of US$465m, Wimm-Bill-Dann is the leader in the Russian market for dairy products and fruit juices. Through the ADS offering, it has floated 25% of its equity.
Groupe DANONE intends to offer EBRD a participation in this investment within the context of their partnership in Eastern Europe and Russia which was set up in 1995.
