date:Oct 28, 2013
French food producer Danone, is joining Dubai-based private equity firm Abraaj Group in acquiring Ghanas Fan Milk International.
Abraaj, which had previously agreed to buy 100% of the company, will own a 51% stake with Danone holding the remaining 49% interest.
Under the agreement, Danone will gradually acquire a controlling stake in Fan Milk.
The company makes and distributes frozen dairy products and juices in West Africa with a presence in Ghana, Nigeria, Togo, Burkina Faso, Benin and Ivor