France: Bel and Lactalis – talks regarding shareholding

The France headquartered private dairy Bel and the France headquartered private dairy Lactalis have entered exclusive talks to sell Royal Bel Leerdammer NL, Bel Italia, Bel Deutschland, the brand Leerdammer and all related rights, and Bel Shostka Ukraine, in return for Lactalis’s 1591472 Bel shareholding (23.16% Bel equity stake). Following the transaction, Lactalis will hold a 0.90 percent stake in Bel. As of December 31, 2020, Leerdammer and Bel Shostka Ukraine revenues were approximately 500 million euro, of which 350 million euro Leerdammer revenues, while operating earnings were approximately 25 million euro.

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