PARIS (dpa-AFX) - Multi-local food and beverage company Danone (DANOY.PK) said that it has finalized the strategic sale of its about 9.8% stake in China Mengniu Dairy Company Limited.
The transaction resulted in total gross proceeds of 1.6 billion euros. The settlement of the transaction will take place on May 17, 2021.
Danone said it will return the majority of the proceeds to shareholders through a share buyback program. The details of the program will be announced upon initiation.
Copyright RTT News/dpa-AFX
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