Danone Buys Part of SNI's Stake in Centrale Laitiere for EUR550 Million
June 27 2012 - 1:25PM
Dow Jones News
French dairy-products company Danone SA (BN.FR, DANOY) said
Wednesday it has raised its stake in Moroccan firm Centrale
Laitiere, in a deal worth EUR550 million.
In a statement, Danone said it has increased its interest in
Centrale Laitiere to 67% from the 29.2% owned by the company since
2001.
Danone said it bought part of holding company SNI's stake.
According to Danone, Centrale Laitiere is Morocco's leading
dairy company with nearly 60% of the country's market.
Danone added that the deal is subject to approval from the
relevant authorities.
Write to Nadya Masidlover at nadya.masidlover@dowjones.com.