The Russian government has approved the merger of Danone’s fresh dairy business with local firm Unimilk, according to reports.
The Russian government’s foreign investment commission yesterday (4 August) approved the merger, which was announced in June, Reuters reported.
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Danone said at the time that the deal would create a business that generated annual sales of EUR1.5bn and spanned Russia, Ukraine, Kazakhstan and Belarus.
Speaking after the commission’s meeting, Igor Artemyev, the head of Russia’s FAS antimonopoly service, told reporters that Danone planned to invest RUB15bn in Russia over the next five to seven years.
