The Russian dairy producer Wimm-Bill-Dann (WBD) has agreed to buy out a minority 18.4% stake in its own capital from Danone. The share is valued at $470m.
Danone has decided to sell the stake following its merger with another Russian dairy producer, Unimilk. The deal is forecast to make the newly merged company the major Russian dairy producer in terms of sales. It will operate 28 Unimilk plants in Russia, Belarus and Ukraine, and two Danone plants in Russia. In 2009 the combined sales generated by Danone and Unimilk amounted to $1.85bn.
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