July 3, 2012

Unimilk gets buyout offer from Dairy JV

Unimilk said in a statement Monday (July 2) that in order to consolidate a 100% stake in the company, Dairy JC Holdings Limited, a structure that owns the joint venture between Danone and Russia's Unimilk, sent a buyout offer to Unimilk.

The price of the offer stood at RUB0.55 (US$0.02) per share. Dairy JV currently holds 88.61% in Unimilk.

The Dairy JV is 58% owned by Danone and 42% by Unimilk. Danone-Unimilk comprises all the assets of Unimilk and the plants of Danone in Russia, Kazakhstan, Belarus, and Ukraine.