Danone plans to sell its stake in Chinese dairy manufacturer Mengniu
French food company Danone said that it has launched the strategic sale of a stake of around 9.8% in China Mengniu Dairy Company through an accelerated bookbuilding process.
Mengniu Dairy is a Chinese dairy manufacturer, which trades on the Hong Kong Stock Exchange.
The transaction follows the announcement made by Danone in late February 2021, of the conversion of its long-term indirect stake in Mengniu into a direct holding which was wrapped up in mid-April 2021.
Danone said that a further announcement in connection with the success of the divestiture and proceeds received will be disclosed in due course.