French dairy company Danone SA (BN.FR) said Monday it entered a binding agreement to sell its U.S. subsidiary, Stonyfield, to Lactalis for $875 million.
The sale of Stonyfield is part of an agreement reached with the U.S. Department of Justice in connection with Danone's recent acquisition of WhiteWave.
Closing of the sale of Stonyfield is subject to final approval by the DOJ and is expected in the third quarter of this year.
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(END) Dow Jones Newswires
July 03, 2017 02:02 ET (06:02 GMT)