Danone Confirms Sale of $470 Million Stake In Wimm-Bill-Dann To Pursue Unimilk Merger

French-owned Danone decided to sell back its 18.4 percent stake in Russia's Wimm-Bill-Dann juice and dairy company. Earlier this year, Danone entered into a merger deal with a competitor of Wimm-Bill-Dann, Russia’s dairy producer Unimilk, as it sought to become the largest dairy producer in the CIS area. The $470 mln sale will become effective once all regulatory approvals for the Unimilk merger are met.

http://www.reuters.com/article/idUSLDE67B05L20100812