Danone SA To Take Control Of Centrale Laitiere SA-Reuters

Reuters reported that Danone SA has agreed to pay EUR550 million ($685.14 million) to take control of Morocco's top dairy firm, Centrale Laitiere SA to broaden its presence in North African markets amid weakening sales in southern Europe. Danone will pay a 34% premium above Centrale Laitiere's stock price to raise the 29.2%, that it has been holding since 2001 to 67%, according to a statement from the seller, National Investment Co (SNI). The deal is expected to be finalised before the end of this year.