Danone Sells Yakult Shares at Discount, Raising $1.66 Billion
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Danone, the world’s largest yogurt maker, sold about two-thirds of its stake in Japan’s Yakult for 175 billion yen ($1.66 billion) at a discount of 11 percent to Tuesday’s close.
The French company sold 24.6 million shares of Yakult Honsha Co. in a secondary sale, reducing its holding to 6.6 percent from 21.3 percent, Danone said in a statement late Tuesday. The sale price was about 7,114 yen per share, according to Bloomberg calculations.