Danone Says It Remains Owner of Business Seized in Russia
- French yogurt maker increases total impairment to €700 million
- Moscow has said it’s taking temporary control of assets
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Danone SA said that the French company remains the legal owner of its Russian dairy operations even after Moscow took control of that business.
The maker of Activia made the statement Wednesday as it reported second-quarter results. Danone is taking a €200 million ($221 million) impairment for the assets on top of a previous €500 million charge. Danone had said in October it expected a writedown of as much as €1 billion.