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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Danone | EU:BN | Euronext | Ordinary Share |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.36 | 0.62% | 58.10 | 58.08 | 58.12 | 58.78 | 57.82 | 57.86 | 374,011 | 15:37:32 |
From May 2021 to May 2024
By Giulia Petroni
Danone said Thursday that it has finalized the sale of its approximately 9.8% stake in Chinese dairy company China Mengniu Dairy Co. with gross proceeds amounting to 15.4 billion Hong Kong dollars ($1.98 billion).
The French food company said the majority of the proceeds will be returned to shareholders through a share buyback program whose details will be disclosed upon initiation.
The sale was launched on Wednesday via an accelerated bookbuilding process after Danone converted its indirect stake in Mengniu into a direct holding earlier this year.
The transaction settlement is set to take place on May 17.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
May 13, 2021 01:24 ET (05:24 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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