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DANONE: Danone to join The Abraaj Group in the acquisition of Fan Milk International, a leading dairy products player in West



    DANONE: Danone to join The Abraaj Group in the acquisition of Fan Milk
        International, a leading dairy products player in West Africa

                      --------- PRESS RELEASE   --------

             

                                                    Paris, October 24^th, 2013

Danone to join The Abraaj Group in the acquisition of Fan Milk International,

                a leading dairy products player in West Africa

Danone and The Abraaj Group ("Abraaj"), a leading investor operating in growth
markets, today  announced a  partnership agreement  whereby Danone  will  join 
Abraaj in the acquisition of Fan Milk International ("Fan Milk").

With 2012 sales of around €120  million, Fan Milk is the leading  manufacturer 
and distributor of frozen dairy products and juices in West Africa. Since  its 
establishment over 50 years ago, Fan  Milk has grown rapidly through a  unique 
distribution network and currently operates in the markets of Ghana,  Nigeria, 
Togo, Burkina Faso, Benin and Ivory Coast.

The combination of  Danone's know-how  in the fresh  dairy category  alongside 
Abraaj's 20 year  investment experience,  insights and local  presence on  the 
African continent  will  boost  Fan  Milk's growth  in  a  market  with  major 
potential.

Arif Naqvi, Founder and Group Chief Executive of The Abraaj Group, said:  "The 
acquisition of Fan Milk represents the largest FMCG private equity transaction
in Sub Saharan  Africa, outside South  Africa. We look  forward to  partnering 
with Danone in order  to accelerate the growth  and penetration of Fan  Milk's 
portfolio of leading consumer food brands across West Africa."  

With this announcement,  Emmanuel Faber,  Danone Co  Chief Operating  Officer, 
said: "This  transaction represents  a  major step  in Danone's  expansion  in 
Africa. Fan  Milk is  a  company with  a unique  business  model driven  by  a 
neighborhood  sales   and  distribution   platform  working   through   31,000 
independent vendors. Danone is already present in North and South Africa,  and 
we will now be able to develop the dairy product market in West Africa".

The Abraaj Group had previously announced its agreement to acquire 100% of Fan
Milk through  one of  its  Funds in  June 2013.  Abraaj  and Danone  will  now 
respectively acquire a 51% and 49% stake in Fan Milk International. Under  the 
agreement, Danone will  in the  coming years gradually  acquire a  controlling 
stake in the business.

The partners expect to complete the transaction by the end of 2013.

                                               

For more information please contact:

Danone contacts:

Press Relations: +33 1 44 35 20 75

Investor Relations: +33 1 44 35 20 76

The Abraaj Group contact:

Nicholas McDonagh

RLM Finsbury

T: +971 (0) 506524717

E: nicholas.mcdonagh@rlmfinsbury.com

About Danone

Danone is an international company present on five continents. The group holds
top positions in healthy food  through four businesses: Fresh Dairy  Products, 
Waters, Baby Nutrition and Medical Nutrition.  Its mission is to bring  health 
through food  to  as  many  people  as possible.  Danone  has  more  than  190 
production plants and around 102,000 employees. In 2012, the company generated
sales of over €20 billion, with more than 50% in emerging countries.

Listed on NYSE Euronext Paris, Danone  is a component stock of leading  social 
responsibility indexes including  the Dow Jones  Sustainability Indexes,  ASPI 
Eurozone, the Ethibel Sustainability Index and the ATNI index.

About The Abraaj Group

The Abraaj Group is a leading private equity investor operating in the  growth 
markets of Africa, Latin  America, Middle East, South  Asia, South East  Asia, 
Turkey and Central Asia. Employing over 300 people, the Group has 25+  country 
offices spread  across six  regional  hubs in  Dubai, Istanbul,  Mexico  City, 
Mumbai, Nairobi and  Singapore. Local presence  across these markets  provides 
the Group with unmatched expertise, know-how, proprietary transactional access
and the ability to grow partner businesses across borders.

The Abraaj  Group currently  manages US$  7.5 billion  across 20+  sector  and 
country-specific Funds. Funds managed by the  Group have holdings in over  140 
partner companies  that collectively  employ over  200,000 people  and  create 
sustainable value  in  sectors  including  manufacturing,  education,  retail, 
aviation, oil  and  gas,  financial payments  infrastructure,  healthcare  and 
agribusiness. Examples of Abraaj partner companies in Africa include Brookside
Dairy, the largest  dairy in  East Africa, Vine  Pharmaceuticals, the  largest 
pharmacy retail chain in Uganda and  Athi River Steel Plant Limited in  Kenya, 
one of the  largest hot and  cold rolled  steel producers in  the region.  The 
Abraaj Group has eight offices across the African continent - Ghana,  Nigeria, 
Kenya, South Africa, Morocco, Algeria, Tunisia and Egypt.

The Abraaj  Group  is  committed to  the  highest  environmental,  stakeholder 
engagement and corporate governance standards. The Group is a signatory to the
United Nations-backed  Principles for  Responsible Investment  and the  United 
Nations Global Compact.

Danone to join The Abraaj Group in the acquisition of Fan Milk Interna

------------------------------------------------------------------------------

This announcement is distributed by Thomson Reuters on behalf of Thomson
Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other
applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of
the
information contained therein.

Source: DANONE via Thomson Reuters ONE
HUG#1737853
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