Groupe Danone has upped its stake in Russian food group Wimm-Bill-Dann.
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The French group has increased its shareholding from 13.7% to 18.6%, according to a filing with the US Securities and Exchange Commission.
Danone paid US$153m used to buy the additional 2.04m shares. The filing said that Danone had moved to up its stake due to “promising growth prospects in the Russian dairy market”.
