Danone and Yakult Agree on New Cooperation Framework
26 Apr 2013 --- In 2004 Danone and Yakult signed a strategic alliance aimed at strengthening their global leadership in probiotics and accelerating the growth of both companies in the functional food market. Under this alliance several collaboration projects in probiotics research and promotion have been undertaken, as well as commercial joint ventures in India and Vietnam.
As provided for in the alliance, since the end of the first phase in May 2012, discussions on the development of the partnership have taken place in recent months, leading to the termination of the alliance agreement and the signing of a new cooperation framework.
This new framework calls for existing collaborations to be continued, and envisages extending them into areas that are more operational in nature and that offer benefits for both parties. Given the relationship of trust built up over the years, this framework does not contain commitment or limitation regarding Danone’s equity interest in Yakult. Through this new cooperation framework, which opens a new stage in their cooperation, Danone reaffirms its status as a major shareholder and long-term partner of Yakult. In this context three Danone representatives will continue to serve on Yakult’s Board of Directors.
Yesterday Danone’s shareholders voted in favour of all resolutions during the Annual General Meeting of Shareholders (AGM). 58.17% of Danone’s outstanding total share capital was present or represented at the AGM. The AGM notably approved the statutory and consolidated financial statements 2012 as well as the proposed dividend of € 1.45 per share payable in cash. The ex-dividend date is set on Thursday May 2nd 2013 and the dividend 2012 will be payable from Tuesday May 7th 2013 onwards. In addition, the AGM approved the mandates of two members of the Board of Directors that were presented for renewal, namely those of Mr Franck Riboud, Chairman and Chief Executive Officer, and Mr Emmanuel Faber, Deputy General Manager.
