Danone has €1.5bn to play with after Yakult sale

French foods group Danone is to sell a €1.5bn stake in Japanese company Yakult in its latest initiative to boost shareholder returns.

Leading consumer groups including Danone, the world’s largest yoghurt maker, as well as Nestle and Unilever, have come under pressure from some shareholders who say they should be producing better returns. Danone, whose brands include Activia and Actimel as well as Evian water, said it would sell 14% of Yakult, and hold onto 7%, as part of a strategy to have a more disciplined approach to how it invests its capital.