US: Danone to pull out of NYSE

By just-drinks.com editorial team | 27 April 2007

Danone is set to delist from the New York Stock Exchange.

The French food and drinks giant said yesterday (26 April) that it has applied for both the delisting of its American Depositary Receipts ADRs) from the NYSE and deregistration under the US Securities Exchange Act of 1934.

As the company is primarily listed on Euronext, where the average trading volume has accounted for almost 98% of trading, ADR trading volume has accounted for only 2% of shares traded over the last four years, Danone said.

"This decision has no impact on Groupe Danone's continued focus to actively develop its business operations in the US," the company said.

The delisting is expected to go through in July, Danone noted.

Sectors: Soft drinks, Water

Companies: Danone