French food giant Danone has unveiled a major debt reduction programme that it says will also allow it to fund acquisitions.
The company, whose brands include Activia, Actimel, Evian and Volvic, is launching a rights issue to raise €3bn (£2.6bn). This would increase its flexibility and allow small to medium-sized acquisitions, the company said.
Danone's debt increased after it spent £8.3bn on Dutch baby food specialist Royal Numico in 2007. Danone's share price fell on the back of this week's announcement.
The company, whose brands include Activia, Actimel, Evian and Volvic, is launching a rights issue to raise €3bn (£2.6bn). This would increase its flexibility and allow small to medium-sized acquisitions, the company said.
Danone's debt increased after it spent £8.3bn on Dutch baby food specialist Royal Numico in 2007. Danone's share price fell on the back of this week's announcement.
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