NZ: Frucor shareholders clear the way for Danone takeover
French food giant, Danone, has declared its NZ$294m takeover of New Zealand drinks group Frucor Beverages unconditional, having received acceptances from 90% of shareholders. Danone will now compulsorily acquire the remaining shares and delist the company. "We believe that this outcome is in the best interests of Frucor's long-term future and look forward to working with the management of Frucor to realise the potential of the company's great brands on a global scale," Danone's Asia managing director Simon Israel said.
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