Danone (BN), owner of the Evian water and Activia yogurt brands, said a takeover of Yakult Honsha Co. (2267) is “not on the agenda” after a nine-year-old agreement that prevented it from raising its stake was replaced with a new one.
The trust that has developed between the companies since the original cooperation agreement was signed in 2004 means there’s no longer a need for a formal restriction on Danone’s 20 percent stake in the Japanese milk drinks producer, spokeswoman Agnes Berthet-d’Anthonay said today by phone.
Nikkei newspaper reported earlier today that Paris-based Danone may increase its stake to 36 percent. The world’s largest yogurt maker had sought to increase its holding after the original agreement was signed to boost its business in Asia, only to have Yakult oppose the proposed increase.
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