CHRONOLOGY-Divestments by Danone since 1997

July 3 (Reuters) - French food group Danone (DANO.PA) is in exclusive talks to sell its biscuit and cereal snack unit for 5.3 billion euros ($7.2 billion) in cash to Kraft Foods Inc (KFT.N).

Danone, which started out as a small yoghurt firm in 1919, embarked on a widespread acquisition strategy in the 1970s under the leadership of Antoine Riboud. His son, Franck, has refocused the group since the 1990s.

Following is a chronology of the biggest divestments by Danone since 1997, when it announced it will focus on diary products, beverages and cereals:

Oct. 9, 1997 - Danone sells its pasta, sauce and soup brands for around 5 billion francs ($850 million).

May 31, 1999 - Danone agrees to sell its frozen and chilled ready meal units Marie Surgeles France and Generale Traiteur to Unigate Plc for 1.45 billion francs.

June 15, 1999 - Danone and Germany's Gerresheimer AG sell their container activities to Britain's CVC Capital Partners for 7.6 billion francs.

March 20, 2000 - UK brewer Scottish & Newcastle Plc buys the Kronenbourg beer business for 1.7 billion pounds ($2.7 billion).

July 13, 2000 - Spanish beermaker Mahou buys out brewer San Miguel from Danone in a deal worth about 50 billion pesetas ($281.5 million).

Feb. 27, 2002 - Danone sells its Italian cheese and ham maker Galbani to British investment fund BC Partners for 1.02 billion euros ($877 million).

July 23, 2004 - Danone sells its British and Irish biscuit units to privately-owned United Biscuits for just over 200 million pounds ($368.5 million).

June 5, 2003 - Danone sells its remaining 44 percent stake in BSN Glasspack.

May 25, 2005 - Danone exits the brewing business with a 600 million euro deal to quit Mahou, the Spanish brewer of San Miguel.

June 20, 2005 - U.S. food company H.J. Heinz buys Danone's UK-based HP Foods business for about $855 million.

July 3, 2007 - Danone is in exclusive talks to sell its biscuit and cereal unit for 5.3 billion euros ($7.2 billion) to Kraft Foods Inc.

Sources: Reuters; Dealogic