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Danone Sheds Two-Thirds Of Stake In Japanese Dairy Products Company

March 28, 2018: 12:00 AM EST
Danone says it will use the proceeds – $1.66 billion – of the sale of two-thirds of its stake in Japanese probiotics dairy producer Yakult Honsha Co. to reduce debt and invest in organic growth. According to Bloomberg, the discounted stock sale took place after activist fund Corvex Management accumulated a stake in Danone, which is struggling to boost revenue. Danone remains Yakult’s biggest shareholder.
"Danone Sells Yakult Shares at Discount, Raising $1.66 Billion", Bloomberg, March 28, 2018, © Bloomberg
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