Danone plans to sell the Russian business for $191.5 million

17:10 - 21.02.2024


February 21, Fineko/abc.az. French dairy producer Danone, whose Russian assets have been transferred to the temporary management of the Federal Property Management Agency, plans to sell the business in Russia for 17.7 billion rubles ($191.5 million) to Vamin Tatarstan.

ABC.AZ reports with reference to Financial Times that the buyer of Life & Nutrition, a subsidiary of Danone in Russia, will be the Russian dairy producer Vamin Tatarstan.

According to a letter from the management of the daughter of Vamin Tatarstan, sent to the Minister of Agriculture of the Russian Federation Dmitry Patrushev, the company's management is ready to pay 17.7 billion rubles ($191.5 million) for control over Danone's assets in Russia.

It is noted that 7.7 billion rubles of them will be used to service the debt of the Russian enterprise, the rest will be used to pay for Danone's share in the company.

 

Other news