22 July 1999: Danone is to deconsolidate from its accounts the activity of glass bottling firm BSN Emballage, in which it has sold its majority stake and now owns 44%.
Franck Riboud, chairman of the…
22 July 1999: Danone is to deconsolidate from its accounts the activity of glass bottling firm BSN Emballage, in which it has sold its majority stake and now owns 44%. Franck Riboud, chairman of the food and drinks group, said his group realized that retaining a minority stake in BSN Emballage rather than the original plan of remaining the majority shareholder did not “constitute a major handicap”. Indeed, as BSN Emballage “showed lower profitability than other activities, we will improve nearly all the group“s ratios, particularly return on invested capital”. Riboud stressed that Danone looks set to achieve its objective of “a rate of 10% over the course of 2000”.