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Danone swims out of deep water

Danone swims out of deep water

18 Feb 2005
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Coca-Cola is to acquire Danone's 49 percent stake in their joint venture.

18/02/05 Danone and Coca-Cola look set to end their joint venture in bottled water in the United States, as Danone focuses on yogurts and escapes the water sector. The Coca-Cola board of directors is expected to approve the acquisition of the 49 percent stake that Danone owns in the joint venture, created three years ago, to distribute Dannon Waters and Sparkletts bottled waters.

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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