Danone could buy 42% shares of Russian business operations at €542 million

Источник: The DairyNews
The Group of Companies Danone could buy out 42% shares of Cyprian Dairy JV (CIS) Holdings from former Unimilk shareholders at the price of €542 million.
The company has earmarked €284 million to pay for 22% shares currently owned by minority shareholders, is said in the company’s annual report. In late 2015 the French company owned 70.9% shares of Russian subsidiary, but on 24 February 2016 General Manager at Danone Russia Bernard Ducros announced, that the company has increased its share to 92.5%.

Danone negotiated merger of Russian assets with Unimilk in 2010. The company contributed into the fund of the integrated company the assets in CIS valued at €346 million, Unimilk assets for the business transaction were valued at €462 million. Additional €116 million Danone paid to Unumilk shareholders in order to get 50.9% of the integrated company.

Today the company has one more co-owner, who actually doesn’t take part in the administration: European Bank for Reconstruction and Development (EBRD) owns 7.1% shares.

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