Financial Times FT.com

Danone plans €3bn cash call

By Scheherazade Daneshkhu in Paris

Published: May 25 2009 21:52 | Last updated: May 26 2009 13:01

Danone, the world’s biggest yoghurt maker, plans to launch a rights issue to raise €3bn ($4.2bn) to reduce its net debt and give it the flexibility to make bolt-on acquisitions.

The Paris-based group, which made net profits of €1.3bn in 2008, has been hit by the downturn in consumer spending, saying in February it expected no rebound in consumption this year.

You have viewed your allowance of free articles. If you wish to view more, click the button below.

Read this