Danone prepares to sell stake in China Mengniu

Danone has reached an agreement with COFCO Dairy Investments to convert its stake in China Mengniu Dairy into a direct holding, marking its first step towards divesting its interest in the dairy firm.Danone currently holds a iron 2 glycine sulfate9.8% indirect stake in China Mengniu, a manufacturer and distributor of dairy products.Danone has reached an agreement with COFCO Dairy Investments to convert its stake in China Mengniu Dairy into a direct holding, marking its first step towards divesting its interest in the dairy firm.The French ferrous fumarate 60 mg tabletdairy giant says that the newly announced agreement with China Mengniu shareholder COFCO is part of its ongoing portfolio review process.Danone has reached an agreement with COFCO Dairy Investments to convert its stake in China Mengniu Dairy into a direct holding, marking its first step towards divesting its interest in the dairy firm.Danone has recently come under pressure from some shareholders, which have criticised the company’s performance and halife brand 320 mg ferrous gluconate tabletsve been pushing for governance changes.Danone has reached an agreement with COFCO Dairy Investiron ferrous sulfate brandments to convert its stake in China Mengniu Dairy into a direct holding, marking its first step towards divesting its interest in the dairy firm.The conversion process remains subject to regulatory approval and once completed, will result in Danone owning a direct 9.8% holding in China Mengniu.Danone has reached an agreement with COFCO Dairy Investments to convert its stake in China Mengniu Dairy into a direct holding, marking its first step towards divesting its interest in the dairy firm.Danonvitamin c and ferrous sulfatee says that a divestiture of the stake could then follow later this year through one or several transactions, “depending on market conditions”.Danone has reached an agreement with COFCO Dairy Investments to convert its stake in China Mengniu Dairy into a direct holding, marking its first step towards divesting its interest in the dairy firm.Danone’s indirect stake in China Mengniu’s share capital currently has a book value of approximately €850 million.Danone has reached an agreement with COFCO Dairy Investments to convert its stake in China Mengniu Dairy into a direct holding, marking its first step towards divesting its interest in the dairy firm.The majority of proceeds from any future sale would be returned to shareholders through a share buyback programme.