Danone receives regulatory approval to write down Russia assets

French food group Danone said on Friday the regulatory approvals required for the disposal of its Essential Dairy and Plant-based business in Russia to Vamin R LLC have been obtained. The total loss recognized by Danone in its accounts amounts to 1.2 billion euros ($1.30 billion), the company said. The closing of this disposal is expected in the coming weeks, Danone added.

French food group Danone said on Friday the regulatory approvals required for the disposal of its Essential Dairy and Plant-based business in Russia to Vamin R LLC have been obtained. The total loss recognized by Danone in its accounts amounts to 1.2 billion euros ($1.30 billion), the company said.

The closing of this disposal is expected in the coming weeks, Danone added. ($1 = 0.9256 euros)