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.
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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)