General Mills to take stake in Yoplait: report

17th March 2011, Comments 0 comments

Private equity fund PAI Partners is ready to sell its 50-percent stake in the world's number two dairy company Yoplait to General Mills for 1.6 billion euros ($2.2 billion), the daily Le Figaro reported Thursday on its website.

"In the end it is the American General Mills that will acquire Yoplait," the French daily wrote without citing its sources.

Neither Yoplait, PAI, nor Sodiaal which owns the other 50 percent in Yoplait, was immediately available for comment.

Yoplait is present in 50 countries and has global sales of some 4.0 billion euros, and trails only French rival Danone.

General Mills is one of the world's largest food companies with $16 billion in sales last year, and already distributes Yoplait products in the United States.

A number of companies are believed to have been interested in buying the stake in Yoplait, including Switzerland's Nestle and China's Bright Food Group.

Le Figaro newspaper reported last month that Bright Food had tabled the highest bid so far for PAI Partners' 50 percent stake in Yoplait, valuing the French firm at around 1.7 billion euros.

© 2011 AFP

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