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Danone Plans to Sell China Dairy Stake to Appease Shareholders

Yogurt maker to sell China Mengniu stake to fund buybacks
Stake in dairy company is worth more than $2 billion

Mengniu Dairy products on sale at a store in Beijing. — Mengniu Dairy products on sale at a store in Beijing.
Photographer: Wang Zhao/AFP/Getty Images

By

Corinne Gretler

February 28, 2021, 4:30 PM UTCUpdated onMarch 1, 2021, 9:25 AM UTC

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Danone is preparing to sell its stake in a Chinese dairy company to fund stock buybacks as the French company tries to boost shareholder returns amid pressure from disgruntled investors.