Wimm-Bill-Dann To Buy Back $470M Danone Stake

Law360, New York (August 12, 2010, 12:39 PM EDT) -- Danone SA announced plans Thursday to sell back its 18.4 percent stake in Russian juice and dairy group Wimm-Bill-Dann Foods for $470 million, a move that comes just after the French yogurt giant expanded its footprint in the Russian dairy market with the acquisition of Wimm-Bill-Dann's rival Unimilk.

The French company, which is the world's largest yogurt maker, first indicated its desire to sell back the shares when it announced the Unimilk merger in June.

Moscow-based Wimm-Bill-Dann said it will buy Danone's stake — which includes...
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