Danone sells shares to Wimm-Bill-Dann

Danone has reached agreement with Russia’s Wimm-Bill-Dann Foods (WBD) where WBD will acquire all ordinary shares and ADRs held by Danone, representing an 18.4% stake in WBD, for a total consideration of $470 million (EUR365.8m). The agreement follows the recent announcement of the joint venture between Danone and Unimilk in the CIS region. The sale will become effective upon Danone having received the necessary regulatory approvals for the merger of its CIS operations with Unimilk.