21-07-2014 09:26 AM | France

Danone buys stake in Kenyan dairy firm

Danone was buying a 40 percent stake in Brookside, east Africa’s top dairy producer, as part of plans to expand in new markets, the French food group said on Friday, at a time when growth is weak in Europe and the economy has slowed in China.

The deal, whose financial terms were not disclosed, was sealed with the controlling Kenyatta family, relatives of Kenya’s President Uhuru Kenyatta, and would boost Danone’s earnings, Emmanuel Marchant, the vice-president for corporate development, said.
Full Story : Independent Online