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RUSSIA: Danone, Unimilk merger approved - report

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The Russian government has approved the merger of Danone’s fresh dairy business with local firm Unimilk, according to reports.

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Earlier this week, the government's foreign investment commission approved the merger, which was announced in June, Reuters has reported.

Danone said at the time that the deal would create a business that generated annual sales of EUR1.5bn (US$1.97bn) and spanned Russia, Ukraine, Kazakhstan and Belarus.

Speaking after the commission's meeting, Igor Artemyev, the head of Russia's FAS antimonopoly service, told reporters that Danone planned to invest RUB15bn (US$501.8m) in Russia over the next five to seven years.


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