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Danone raises its stake in China’s leading dairy company Mengniu

Danone today announced an agreement, together with COFCO Dairy Investments, to subscribe a reserved rights issue by China’s leading dairy company Mengniu, raising its interest in this company from 4.0% to 9.9% for an investment of €486 million[1] . The transaction makes Danone the second largest shareholder in Mengniu, and follows on from agreements signed on May 20, 2013 with Mengniu and with COFCO, China’ ...

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DANONE SETS TERMS FOR CONTINUED PARTNERSHIP WITH FONTERRA AND INITIATES LEGAL PROCEEDINGS

On August 2, 2013, Fonterra issued an alert concerning a possible contamination of certain ingredients supplied to Danone. Additional tests revealed later on that it was in fact a false alert. This affair illustrates serious failings on Fonterra’s part in applying the quality standards required in the food industry. Danone is terminating its existing supply contract with Fonterra and making any further coll ...

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