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.
