Danone: finalises sale of shares in Yakult Honsha
(CercleFinance.com) - Danone has sold a total of 24,600,000 shares in Yakult Honsha Co.
for 175 billion yen, or about 1.3 billion euros. This represents 39 times Yakult's net income in 2017.
The proceeds of the transaction will be used to reduce debt and to invest in Danone's plan to accelerate organic growth and maximise its efficiency through to 2020.
As a result of this transaction, Danone has reduced its stake in Yakult's capital from 21.29% to 6.61%.
Danone and Yakult will continue their long-term strategic partnership and will strengthen their collaboration.
Danone remains Yakult's main shareholder and will propose the appointment of two Directors at the company's general shareholder meeting.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
for 175 billion yen, or about 1.3 billion euros. This represents 39 times Yakult's net income in 2017.
The proceeds of the transaction will be used to reduce debt and to invest in Danone's plan to accelerate organic growth and maximise its efficiency through to 2020.
As a result of this transaction, Danone has reduced its stake in Yakult's capital from 21.29% to 6.61%.
Danone and Yakult will continue their long-term strategic partnership and will strengthen their collaboration.
Danone remains Yakult's main shareholder and will propose the appointment of two Directors at the company's general shareholder meeting.
Copyright (c) 2018 CercleFinance.com. All rights reserved.