The owners of Yoplait said Friday they were in exclusive negotiations with the French yogurt maker's longtime American partner, General Mills, to sell just over a 50 percent stake in the company for about 800 million euros.
[AP] - General Mills says it has entered into exclusive negotiations to buy a majority stake in French yogurt company Yoplait. The binding offer with PAI Partner and Sodiaal, the owners of Yoplait S.A.S., would beat out rivals bidding for the company.
Private equity fund PAI Partners is ready to sell its 50-percent stake in the world's number two dairy company Yoplait to General Mills for 1.6 billion euros ($2.2 billion), the daily Le Figaro reported Thursday on its website."In the end it is the American General Mills that will acquire Yoplait," the French daily wrote without citing its sources.Neither Yoplait, PAI, nor Sodiaal which owns the other 50 percent in Yoplait, was immediately available for comment.