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Under shareholder pressure, Danone seeks to sell Chinese asset


Under shareholder pressure, Danone seeks to sell Chinese asset
A cow in a Chinese dairy farm. Photo: Bloomberg
March 1, 2021
Danone said on Sunday it was taking a first step towards selling off its stake in its Chinese dairy partner as the French food group faces pressure from shareholders to improve its performance and governance.
Danone said in a statement that following a review of its portfolio it had reached an agreement to convert its indirect stake in China Mengniu Dairy Company Limited into a 9.8% direct holding in the Hong Kong-listed group.
A sale of the direct stake could follow this year in one or in several transactions and depending on market conditions, Danone said, adding that most of the gains would be used to buy back its own shares. ....

Emmanuel Faber , Juergen Esser , China Mengniu Dairy Company , China Mengniu Dairy Company Limited , Hong Kong Listed , Financial Officer Juergen Esser , Chief Executive Emmanuel Faber , Artisan Partners , Bluebell Capital Partners , இம்மானுவேல் ஃபேபர் , ஜூர்கன் கட்டுரை , ஹாங் காங் பட்டியலிடப்பட்டுள்ளது , நிதி அதிகாரி ஜூர்கன் கட்டுரை , தலைமை நிர்வாகி இம்மானுவேல் ஃபேபர் , கைவினைஞர் கூட்டாளர்கள் , புளூபெல் மூலதனம் கூட்டாளர்கள் ,