Inflation is unlikely to hit the Federal Reserve's 2% target on a sustained basis at least through 2022, Boston Fed President Eric Rosengren said on Wednesday, adding that he was not concerned about an immediate jump in prices that is expected to occur as the coronavirus.
U.S. investment firm Artisan Partners on Wednesday called on French food group Danone to separate its medical nutrition business from its baby foods unit and offload its Asian water brand Mizone to boost returns.
U.S. investment firm Artisan Partners on Wednesday called on French food group Danone to separate its medical nutrition business from its baby foods unit and offload its Asian water brand Mizone to boost returns.
By Reuters Staff
(Adds transaction details, background on Origin)
Feb 17 (Reuters) - Carbon-negative products maker Origin Materials said on Wednesday it has agreed to go public through a merger with blank-check firm Artius Acquisition Inc, in a deal that values the equity of the combined entity at $1.8 billion.
The deal will provide Origin with gross proceeds of $925 million, including a private investment of $200 million from Danone SA, Nestlé SA, PepsiCo Inc and affiliates of Apollo Global Management among others.
Sacramento, California-based Origin helps turn carbon found in biomass into useful products, its website showed, capturing carbon in the process.
The company formed an alliance with Nestle and Danone in 2016 to produce and commercialize plant-based PET plastic, which has a low carbon footprint. PepsiCo joined two years later.
Argentina is investigating consumer firms including Danone, Procter & Gamble and Unilever, along with food producers like Bunge, over accusations that they have deliberately held back production amid a government clampdown on rising prices.