Danone (DANOY.PK) is merging its Russian dairy businesses with local company Unimilk, creating a...

|About: Danone ADR (DANOY)|By:, SA News Editor

Danone (DANOY.PK) is merging its Russian dairy businesses with local company Unimilk, creating a venture with about €1.5B ($1.9B) of annual sales. The deal "represents a strategic move for Danone in a region which is offering a promise of growth in the years ahead," says Danone CEO Franck Riboud.