Danone finalizes sale of Mengniu stake
On May 13, 2021, Danone announced the completion of its strategic sale of a 9.8% stake in China Mengniu Dairy, generating gross proceeds of HKD 15.4 billion (approximately €1.6 billion). The settlement is scheduled for May 17, 2021. As part of its capital allocation strategy, the majority of the sale proceeds will be returned to shareholders via a share buyback program, details of which will be shared later.
- Generated HKD 15.4 billion from the sale, providing significant capital.
- Plan to return the majority of proceeds to shareholders through a buyback program.
- None.
Press release – Paris, May 13, 2021
Danone finalizes sale of Mengniu stake
Danone has finalized the strategic sale of its approximately
The transaction resulted in total gross proceeds of HKD 15.4 billion, representing c.
In line with Danone’s disciplined capital allocation, the majority of the proceeds will be returned to shareholders through a share buyback program. The details of the program will be announced upon initiation.
About Danone (www.danone.com)
Danone is a leading multi-local food and beverage company building on health-focused and fast-growing categories in 3 businesses: Essential Dairy & Plant-Based products, Waters and Specialized Nutrition. With its ‘One Planet. One Health’ frame of action, which considers the health of people and the planet as intimately interconnected, Danone aims to inspire healthier and more sustainable eating and drinking practices. To accelerate this food revolution and create superior, sustainable, profitable value for all its stakeholders, Danone has defined nine 2030 Goals, and paved the way as the first listed company to adopt the “Entreprise à Mission” status in France. With a purpose to bring health through food to as many people as possible, and corresponding social, societal and environmental objectives set out in its articles of association, Danone commits to operating in an efficient, responsible and inclusive manner, in line with the Sustainable Development Goals (SDGs) of the United Nations. By 2025, Danone aims to become one of the first multinational companies to obtain B Corp™ certification. With more than 100,000 employees, and products sold in over 120 markets, Danone generated
o o O o o
FORWARD-LOOKING STATEMENTS
This press release contains certain forward-looking statements concerning Danone. In some cases, you can identify these forward-looking statements by forward-looking words, such as “estimate”, “expect”, “anticipate”, “project”, “plan”, “intend”, “objective”, “believe”, “forecast”, “guidance”, “foresee”, “likely”, “may”, “should”, “goal”, “target”, “might”, “will”, “could”, “predict”, “continue”, “convinced” and “confident,” the negative or plural of these words and other comparable terminology. Forward looking statements in this document include, but are not limited to, predictions of future activities, operations, direction, performance and results of Danone.
Although Danone believes its expectations are based on reasonable assumptions, these forward-looking statements are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those anticipated in these forward-looking statements. For a detailed description of these risks and uncertainties, please refer to the “Risk Factor” section of Danone’s Universal Registration Document (the current version of which is available on www.danone.com).
Subject to regulatory requirements, Danone does not undertake to publicly update or revise any of these forward-looking statements. This document does not constitute an offer to sell, or a solicitation of an offer to buy Danone securities.
Attachment
FAQ
What was Danone's recent stake sale amount?
When will the settlement of Danone's stake sale occur?
How will Danone utilize the proceeds from the Mengniu stake sale?
Why did Danone sell its stake in Mengniu?
