Danone gets at least 65%

Friday 18th January 2002

Groupe Danone had received acceptances of 65% of Frucor Beverages at press time yesterday. Shareholders have until 5pm tonight to accept.

Danone's offer remains conditional on receiving 90% or more of the shares in Frucor to move to full acquisition.

Danone Asia managing director Simon Israel said he was happy with the progress on Danone's offer. "We are past the 60% mark and the momentum for acceptances is building," he said in a statement on Wednesday. He said Frucor's management had tendered its shares for the offer and he was pleased independent directors and management were supporting the offer. Frucor will be delisted if Danone reaches 90%.

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