Danone: Update from Danone on its EDP business in Russia
March 22 2024 - 2:36PM
Danone: Update from Danone on its EDP business in Russia
Press release – Paris, March 22, 2024
Update from Danone on its EDP business in
Russia
Danone announces today that the Russian
regulatory approvals required for the disposal of its EDP business
in Russia to Vamin R LLC have been obtained. The closing of this
disposal is expected in the coming weeks.
As a reminder, Danone launched the transfer
process of this business in October 2022. In July 2023, Danone
deconsolidated EDP Russia from its accounts after losing the
control of the management. The total loss recognized by Danone in
its accounts amounts to €1.2bn.
o o O o o
FORWARD-LOOKING STATEMENTS
This press release contains certain
forward-looking statements concerning Danone. In some cases, you
can identify these forward-looking statements by forward-looking
words, such as “estimate”, “expect”, “anticipate”, “project”,
“plan”, “intend”, “objective”, “believe”, “forecast”, “guidance”,
“foresee”, “likely”, “may”, “should”, “goal”, “target”, “might”,
“will”, “could”, “predict”, “continue”, “convinced” and
“confident,” the negative or plural of these words and other
comparable terminology. Forward looking statements in this document
include, but are not limited to, predictions of future activities,
operations, direction, performance and results of Danone.
Although Danone believes its expectations are
based on reasonable assumptions, these forward-looking statements
are subject to numerous risks and uncertainties, which could cause
actual results to differ materially from those anticipated in these
forward-looking statements. For a detailed description of these
risks and uncertainties, please refer to the “Risk Factor” section
of Danone’s Universal Registration Document (the current version of
which is available at www.danone.com).
Subject to regulatory requirements, Danone does
not undertake to publicly update or revise any of these
forward-looking statements. This document does not constitute an
offer to sell, or a solicitation of an offer to buy Danone
securities.
About Danone
(www.danone.com)
Danone is a leading global food and beverage
company operating in three health-focused, fast-growing and
on-trend Categories: Essential Dairy & Plant-Based products,
Waters and Specialized Nutrition. With a long-standing mission of
bringing health through food to as many people as possible, Danone
aims to inspire healthier and more sustainable eating and drinking
practices while committing to achieve measurable nutritional,
social, societal and environment impact. Danone has defined its
“Renew” strategy to restore growth, competitiveness, and value
creation for the long-term. With almost 90,000 employees, and
products sold in over 120 markets, Danone generated €27.6 billion
in sales in 2023. Danone’s portfolio includes leading international
brands (Actimel, Activia, Alpro, Aptamil, Danette, Danio, Danonino,
evian, Nutricia, Nutrilon, Volvic, among others) as well as strong
local and regional brands (including AQUA, Blédina, Bonafont, Cow
& Gate, Mizone, Oikos and Silk). Listed on Euronext Paris and
present on the OTCQX platform via an ADR (American Depositary
Receipt) program, Danone is a component stock of leading
sustainability indexes including the ones managed by Moody’s and
Sustainalytics, as well as MSCI ESG Indexes, FTSE4Good Index
Series, Bloomberg Gender Equality Index, and Access to Nutrition
Index. Danone’s ambition is to be B CorpTM certified at global
level in 2025.
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