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Danone reaches agreement with WBD to sell back its stake
Danone has reached agreement with Wimm-Bill-Dann Foods (WBD) whereby WBD will acquire all ordinary shares and ADRs held by Danone, representing an 18.4% stake in WBD, for a total consideration of $470m.
The agreement follows the recent announcement of the joint venture between Danone and Unimilk in the CIS region.
The sale will become effective, and close, upon Danone having received the necessary regulatory approvals for the merger of its CIS operations with Unimilk.
Source: Danone
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