By Inti Landauro
PARIS--French dairy group Danone SA (BN.FR) and Dubai-based
private equity group Abraaj Group Thursday said they have jointly
bought Fan Milk International (FML.GH), a West African producer of
frozen dairy products and fruit juices, for an undisclosed
amount.
Danone will take 51% in Fan Milk, while Abraaj will take the
remaining 49%, the companies said.
Fan Milk had about 120 million euros ($167 million) in sales in
Ghana, Nigeria, Togho, Burkina Faso and Benin.
The acquisition is part of Danone's strategy to expand in
Africa, said Emmanuel Faber, Danone Co-Chief Operating Officer.
Write to Inti Landauro at inti.landauro@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires