trending Market Intelligence /marketintelligence/en/news-insights/trending/7pdd4sadmlmr71tsjismdw2 content esgSubNav
In This List

Danone set to acquire 49% stake in Yashili's New Zealand unit

Blog

Global M&A By the Numbers: Q3 2021

Blog

Industries Most and Least Impacted by COVID-19: A Market-Implied Probability of Default Perspective

Blog

Post-webinar Q&A: Global Credit Risk Trends 2021 and Beyond

Blog

Shore Capital is Now Available in S&P Global’s Aftermarket Research Collection


Danone set to acquire 49% stake in Yashili's New Zealand unit

French packaged food and meat producer Danone agreed to acquire a 49% stake in Yashili New Zealand Dairy Co. Ltd., an indirect subsidiary of Yashili International Holdings Ltd.

Singapore-based Danone Asia Pacific Holdings Pte. Ltd. and Yashili International Group Ltd., a Hong Kong-incorporated unit of Yashili International Holdings, signed a memorandum of understanding June 11 for the transaction. The consideration and payment schedule will be determined after talks, Yashili International Holdings said in a statement.

Yashili International Holdings said May 23 that it was considering a disposal of a noncontrolling interest in certain factory assets to a connected person of the company. Danone Asia Baby Nutrition Pte. Ltd., an indirect wholly owned unit of Danone, has a 25.0% stake in Yashili International Holdings.

The transaction is subject to regulatory approvals, including consent of the New Zealand Overseas Investment Office, and approval by the shareholders of Yashili International Holdings, among other conditions.