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Danone finalizes sale of Mengniu stake

Christian Fernsby |
Danone has finalized the strategic sale of its approximately 9.8% stake in a Chinese manufacturer and distributor of dairy products, China Mengniu Dairy Company Limited.

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Topics: DANONE   

The transaction resulted in total gross proceeds of HKD 15.4 billion, representing c. €1.6 billion.The settlement of the transaction will take place on May 17, 2021.

In line with Danone’s disciplined capital allocation, the majority of the proceeds will be returned to shareholders through a share buyback program.

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