Danone swims out of deep water
Coca-Cola is to acquire Danone's 49 percent stake in their joint venture.
According to an estimate in November by Danone's finance and strategy director Emmanuel Faber, annual sales of Evian in the US have dropped from 220 million euros (287.7 million dollars) four years ago to about 100 million dollars. Danone's annual results last week reported that net profits had fallen by 62 per cent, following January's €600 million write down of its water-cooler business.
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