Groupe DANONE withdraws its take-over bid for Knjaz Milos

Groupe DANONE announced today it is withdrawing from the ongoing take-over bid process for the acquisition of majority equity interest in Knjaz Milos, the leading bottled water company in Serbia.

Groupe DANONE, who always seeks to work in full harmony within the environment where it operates, did not feel the necessary consensus and adequate conditions were met at this stage to proceed with an offer.
New provisions of the corporate law passed last week also create, in the context of Knjaz Milos, uncertainties as to the ability of Apurna to implement its strategy for the company.

Groupe DANONE confirms however its interest in investing in Serbia should such required consensus and conditions be reached, and in particular in Knjaz Milos in the event the opportunity to become its strategic partner still exists following the conclusion of the current take-over bid process.

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