Danone To Buyout Joint Venture Partner

France's Danone is on the verge of taking full control of its promising South African joint venture Danone Clover after reaching an agreement to buy out its partner Clover SA's 45% stake for ZAR1.09bn (US$145.3mn). Suiting both companies in BMI's opinion, Danone will take full strategic control of a market leading fermented fresh dairy and desserts business while Clover, having realised a considerable profit from the deal, is expected to re-invest the proceeds into strengthening its manufacturing facilities and distributional

To read the full article, please choose one of the following options: