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Form 6-K Fresenius Medical Care For: Apr 07

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Danone Prepares to Sell $1 Billion Stake in China s Mengniu

(Bloomberg) 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.Danone said Sunday it plans to sell its stake in China Mengniu Dairy Co., which has a market value of more than $2 billion, later this year. Most of the proceeds would be used to fund share repurchases. Danone shares rose as much as 2.6%.The announcement comes hours before Danone’s board reportedly meets to discuss its response to calls from investors such as Artisan Partners Asset Management Inc. for management changes. Danone Chairman and Chief Executive Officer Emmanuel Faber is facing demands for him to give up one or both of his positions at the company, which he has led since 2014.China Mengniu climbed 1.5% early Monday amid a broader market rally in Hong Kong. Shares of the company, which makes milk, ice cream and cheese, have gained 54% over the past 12 months.Faber said las

Danone Plans to Sell China Dairy Stake to Appease Shareholders

Danone Plans to Sell China Dairy Stake to Appease Shareholders Bloomberg 3/1/2021 (Bloomberg) 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. Danone said Sunday it plans to sell its stake in China Mengniu Dairy Co., which has a market value of more than $2 billion, later this year. Most of the proceeds would be used to fund share repurchases. Danone shares rose as much as 2.6%. The announcement comes hours before Danone’s board reportedly meets to discuss its response to calls from investors such as Artisan Partners Asset Management Inc. for management changes. Danone Chairman and Chief Executive Officer Emmanuel Faber is facing demands for him to give up one or both of his positions at the company, which he has led since 2014.

Danone prepares to sell US$1bn stake in Mengniu

Danone prepares to sell US$1bn stake in Mengniu Bloomberg Danone SA is paving the way to sell its stake in China Mengniu Dairy Co (中國蒙牛乳業) later this year by converting the investment into a direct holding. The 9.8 percent stake is held indirectly and has a book value of 850 million euros (US$1.03 billion), the world’s largest yogurt maker said in a statement on Sunday. The majority of the proceeds would be returned to shareholders through a share buyback program. Danone SA chief executive officer Emmanuel Faber poses ahead of a press conference in Paris on Feb. 16, 2018. The French company plans to sell its stake in China Mengniu Dairy Co later this year by converting the investment into a direct holding.

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