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Danone to sell $2B stake in Chinese dairy company

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May 14, 2021

Danone, a Paris based global provider of dairy and plant-based products, waters and nutrition, has agreed to sell its 9.8% stake in China Mengniu Dairy Co. Ltd., estimated at €1.6 billion ($1.94 billion), according to a press release.

The settlement of the transaction will take place on Monday. The majority of the proceeds will be returned to shareholders through a share buyback program.