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Danone to shed Russian dairy business with 1-billion-euro write-off

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Joining a lengthening list of global companies making costly exits from Russia over the war in Ukraine, Danone will be offloading a business representing about 90% of its operations in Russia.

have continued to provide essential food and medicine to Russia while also facing pressure from consumers and activists to cut all ties with Moscow.Nissan offloaded its assets to the Russian stateShares in Danone rose more than 1% in early trading, with analysts welcoming the news and saying it could herald a wider reshuffle of its operations.

“Russia is clearly an asset they had to exit from,” Pierre Tegner, analyst at broker Oddo BHF, said in a note.

 

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