Key Developments: Danone SA (DANO.PA)

DANO.PA on Paris Stock Exchange

17 Apr 2014
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Latest Key Developments (Source: Significant Developments)

Danone SA Wants Full Compensation From Fonterra After Recall-Reuters
Wednesday, 2 Oct 2013 04:20pm EDT 

Reuters reported that Danone SA says it is seeking full compensation from New Zealand dairy exporter Fonterra over a contamination scare involving a Fonterra ingredient used in milk formula produced by the French food manufacturer. Danone confirmed it had sent a notice of dispute to Fonterra on September 24, after Fonterra said on October 2, the two companies were in talks to resolve issues stemming from a recall of Danone products in August. The discussions follow the food safety scare in August, when Fonterra said it found a potentially fatal, botulism-causing bacteria in one of its products, triggering recalls of infant milk formula and sports drinks in nine countries. Danone owned brands were affected and the Company issued a recall of its Dumex milk formula products containing the affected ingredient in China, Singapore and Malaysia and other Asian countries, while its Nutricia brand of milk formula was taken off supermarket shelves in New Zealand. New Zealand's Ministry for Primary Industries said later that tests showed the scare had been a false alarm because whey protein concentrate made by Fonterra had been found to contain a less harmful bacteria. The food safety warning issued by Fonterra and the New Zealand government was lifted on August 28.  Full Article

Danone SA Announces Acquisition of YoCrunch
Friday, 9 Aug 2013 01:43am EDT 

Danone SA announced that it has acquired 100% of YoCrunch's share capital. Founded in 1985, YoCrunch makes yogurt with crunchy toppings packaged separately, in part through licensing agreements with brands such as M&Ms and Oreo. The financial terms of the deal were not disclosed.  Full Article

Danone SA Among Companies Fined for Price Fixing in China-Reuters
Tuesday, 6 Aug 2013 08:00pm EDT 

Reuters reported that China fined six companies, including Danone SA a total of USD 110 million following an investigation into price fixing and anti-competitive practices by foreign baby formula makers. The other companies penalised were Abbott Laboratories, Dutch dairy cooperative FrieslandCampina, Mead Johnson Nutrition Co, Fonterra and Hong Kong-listed Biostime International Holdings.  Full Article

Danone SA Confirms FY 2013 Revenue and Trading Operating Margin Guidance
Monday, 29 Jul 2013 01:33am EDT 

Danone SA announced that it confirms its guidance for the fiscal year 2013 and expects a like-for-like sales growth of at least +5%; a decline in trading operating margin, by between -50 bps and -30 bps like-for-like and a free cash-flow of around EUR 2 billion, excluding exceptional items. The Company also announced that it plans to get back on track to strong, profitable organic growth as of fiscal year 2014.  Full Article

Starbucks Corp Announces Teaming Up With Danone SA-Reuters
Tuesday, 23 Jul 2013 02:07pm EDT 

Reuters reported that Starbucks Corp and Danone SA said they will sell a co-branded yogurt through Starbucks cafes and in grocery stores as yogurt makers. Financial terms were not disclosed. Their first product will be ready-to-eat Greek yogurt parfaits, to be sold in U.S. Starbucks stores in spring 2014.  Full Article

Norbert Dentressangle SA Creates Joint Venture with Danone SA in Russia
Tuesday, 9 Jul 2013 11:35am EDT 

Norbert Dentressangle SA announced that it has entered into a 50/50 Joint Venture with Danone SA to offer temperature-controlled logistics and transport of fresh products across Russia.  Full Article

NDRC Investigates Danone SA-Reuters
Thursday, 4 Jul 2013 01:34am EDT 

Reuters reported that he National Development and Reform Commission (NDRC) is investigating into possible price-fixing and anti-competitive behaviour by five instant milk powder makers, including Swiss food company Nestle SA and Danone SA.  Full Article

Danone SA Launches EUR 500 Million Bond Issue
Friday, 21 Jun 2013 12:01pm EDT 

Danone SA announced the launch of a EUR 500 million 10-year bond issue in euros on June 21, 2013. The EUR 500 million bond, priced at mid swap +63 basis points, pays a coupon of 2.60%. The bonds will be listed on Euronext Paris. BNP Paribas, Credit Agricole CIB, ING, Mitsubishi UFJ Securities and NATIXIS were lead managers.  Full Article

Danone SA Launches EUR 650 Million Bond Issue
Monday, 3 Jun 2013 12:00pm EDT 

Danone SA announced the launch of a EUR 650 million 6-year bond issue in euros on June 3rd, 2013. The EUR 650 million bond was priced at mid swap +30 basis points and pays a coupon of 1.375%. The bonds will be listed on Euronext Paris. Citigroup, HSBC, Santander Global Banking & Markets and Societe Generale Corporate & Investment Banking were lead managers.  Full Article

Danone SA Announces Joint Venture and Equity Investment Agreement with COFCO and China Mengniu Dairy Co Ltd
Sunday, 19 May 2013 08:00pm EDT 

Danone SA announced COFCO, a State-owned food company in China, has signed an agreement with Danone, pursuant to which the two parties will form a joint-venture. COFCO has agreed to sell 148,014,022 shares in China Mengniu Dairy Co Ltd to the joint-venture. COFCO and Danone will own 51% and 49% respectively in the newly formed company. After the transaction, COFCO will continue to be the single largest shareholder in China Mengniu. Danone will become a strategic shareholder in China Mengniu, owning an indirect interest of approximately 4% at the initial stage, with an aim to increase the interest in China Mengniu based on market conditions in the future. In addition, Danone and China Mengniu Dairy Co Ltd have signed a framework agreement to establish a joint-venture for the production and sales of chilled yogurt products in China, Danone will own 20% and China Mengniu 80% of the new joint-venture in China. Danone will invest approximately EUR 325 million as a result of the two above cooperation projects.  Full Article


Higher milk prices dampen sales growth at Danone

PARIS - French food group Danone reported a slowdown in first-quarter sales growth on Wednesday, as sales volumes at its core dairy division were hit by the company passing on higher milk prices and sales in the baby food business also fell, though less sharply than feared.

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