RUSSIA: Wimm-Bill-Dann says some shareholders in talks with Danone

Russian juice and dairy company Wimm-Bill-Dann has confirmed that some of the company's shareholders are engaged in preliminary discussions with French dairy giant Danone in relation to a possible transaction, which may result in the acquisition of all or a majority of the shares of the company by Danone.

June 16, 2003

Russian juice and dairy company Wimm-Bill-Dann has confirmed that some of the company’s shareholders are engaged in preliminary discussions with French dairy giant Danone in relation to a possible transaction, which may result in the acquisition of all or a majority of the shares of the company by Danone.

Wimm-Bill-Dann said it has, at the request of these shareholders, cooperated in such preliminary discussions.

The company said no agreement with respect to price or other material terms or conditions of a transaction has yet been reached. Wimm-Bill-Dann added that no assurance can be made that these discussions will continue or that any agreement with respect to a transaction will be reached, or, if reached, what the form of the transaction will be.