02 August 2004 18:13
Co-owners of Danone Russia`s division to additionally contribute around 58 mln euros in its stock capital.
Co-owners of Moscow Danone Industry - Companie Gervais Danone SA (France) and the EBRD - are intending to additionally contribute around 58.33 mln euros in the stock capital of the company. EBRD said it will provide 17.5 mln euros and maintain today's stake.
The funds will go to develop business in Russia and increase annual production over 2 fold to 310 ths tons by 2007. Besides, Danone is intending to expand to the west and south of Moscow and introduce new product on Russia's market.
Initially, the EBRD contributed $21 mln in the stock capital of Moscow Danone Industry (30% share) in 2001. Companie Gervais Danone holds the remaining 70%.
Russia's Danone Industry has been operating since 1995. It has two works (Moscow Region's Chekhov and Samara) with the overall capacity of 120 ths tons.
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