FRANCE: Danone to exercise €2 billion put option from S&N
The French food and drinks group, Danone SA, has announced that it will exercise its option to reclaim €2 billion from the UK brewing group, Scottish & Newcastle (S&N) in the second half of 2002. The option relates to the sale in 2000 of Danone's beer company, Kronenbourg, to S&N. Danone's divestment of Kronenbourg was in line with its strategy to focus on three core areas: fresh dairy products, bottled water and biscuits.
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