Danone to transfer dairy business in Russia, write off 1 bln euros

MOSCOW, Oct 14 (PRIME) -- French company Danone plans to transfer the control of its dairy and plant-based business in Russia, and can write off up to 1 billion euros, the company said in a statement on Friday.

“Danone announces today it has decided to initiate a process to transfer the effective control of its Essential Dairy and Plant-based (EDP) business in Russia. Danone considers that this is the best option to ensure long-term local business continuity, for its employees, consumers and partners,” the company said.

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