Danone to Complete Disposal of Russian Business in Coming Weeks
By David Sachs
Danone expects to shed its Russian dairy business in the coming weeks.
The French food company said late Friday that Russian regulators approved the transfer of its dairy and plant-based business in the country to Russian dairy company Vamin R LLC, also known as Vamin Tatarstan. The deal will close in the coming weeks, Danone said.
Danone launched the disposal process in October 2022 after Russia President Vladimir Putin effectively placed the company's local operations under government control. Danone booked a write-down of 1.2 billion euros ($1.30 billion).
Write to David Sachs at david.sachs@wsj.com
(END) Dow Jones Newswires
March 25, 2024 02:36 ET (06:36 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
What’s the Difference Between the CPI and PCE Indexes?
-
Micron Earnings: Great Guidance but Stock Now Looks Fairly Valued
-
August PCE Report Forecasts Show More Good News on Inflation
-
AI Stocks May Be Down, but Don’t Count Them Out
-
4 Stocks to Buy as the Fed Cuts Interest Rates
-
Markets Brief: The Uncertain Path to Neutral Interest Rates
-
What’s Happening in the Markets This Week
-
Where Top Stock Fund Managers Are Looking Next After the Fed Rate Cut
-
Our Top Pick for Investing in US Renewable Energy
-
How to Measure a Stock’s Uncertainty
-
How to Determine Whether a Stock Is Cheap, Expensive, or Fairly Valued
-
Why a Company’s Management and Capital Allocation Matter
-
How to Determine What a Stock Is Worth
-
How to Measure a Company’s Competitive Advantage
-
How to Think Like a Stock Analyst
-
How GLP-1 Drugs Like Ozempic Are Boosting Biopharma Stocks