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.