Danone receives regulatory approval to write down Russia assets

Danone records $1.2 billion in losses
calendar icon 25 March 2024
clock icon 1 minute read

French food group Danone said on Friday the regulatory approvals required for the disposal of its Essential Dairy and Plant-based business in Russia to Vamin R LLC have been obtained, reported Reuters

The total loss recognised by Danone in its accounts amounts to 1.2 billion euros ($1.30 billion), the company said.

The closing of this disposal is expected in the coming weeks, Danone added.

($1 = 0.9256 euros)

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