Dairy giant Danone wants to increase its stake in the Kingiseppsky Dairy Plant near Saint Petersburg to 65.5%.
Russia’s competition regulator, the Federal Antimonopoly Servic, announced
today that Unimilk has requested approval to obtain a majority stake. It currently holds 23.31%.
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Danone refused to comment on the deal. A company spokesperson said: “We only comment on closed deals.”
However, Detskoselsky, the Russian company that owns the majority of the shares in the dairy plant, confirmed that talks are being held.
Russian media reported earlier this month that Detskoselsky had offered Danone 100% of the shares of the plant as it is alledgedly only using 10% of the 140 ton per day capacity.
Kingiseppsky Dairy Plant produces under the trademark Lateo. Unimilk acquired a stake in the plant last year, before the company was taken over by Danone.
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By GlobalDataDanone earlier this month announced plans to expand production at its production facility in facility in Labinsk, to meet the growing demands for dairy products in the south of the country.
