If Danone Spain’s shareholders where to exercise an option to sell their 44% stake in the company it would be worth at least EUR2bn (US$2.74bn), Spanish press has reported. The French food giant revealed the stake’s price to stock regulators in France, a Danone Spain spokesman confirmed to just-food. He would not comment further.
Cinco Dias quoted unnamed Danone officials as saying that the group does not plan to exercise its option, which values the entire Spanish subsidiary at EUR4.6bn, to buy the stake and that its value was revealed to meet French regulatory laws.
Danone Spain is one of the French group’s most profitable subsidiaries, boasting a lead in the yoghurts market and a strong foothold in dairy products and bottled water. The unit also controls Danone Portugal.
The 44% shareholding is owned by Catalan families Carasso, Portabella and Botton, and by Valencia-based Fuster family.
The Danone spokesman said the company will reveal its Spanish financial results during its AGM in late May.
In 2004, Danone Spain reportedly posted a profit of EUR214m on revenues of EUR1.35bn.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData