(Reuters) - Danone's 12.3 billion euros
takeover of Numico , announced on Monday, follows an
agreement by the company last week to sell its biscuits business
to Kraft Foods Inc. .
The Numico deal, expected to generate net debt of 7 billion
euros, will likely prompt a downgrade of Danone's current A1 and
and A+ ratings from Moody's Investors Service and Standard &
Poor's, although by how much will depend on how the deal is
financed.
Read more at Reuters.com Bonds News
takeover of Numico , announced on Monday, follows an
agreement by the company last week to sell its biscuits business
to Kraft Foods Inc. .
The Numico deal, expected to generate net debt of 7 billion
euros, will likely prompt a downgrade of Danone's current A1 and
and A+ ratings from Moody's Investors Service and Standard &
Poor's, although by how much will depend on how the deal is
financed.
Read more at Reuters.com Bonds News
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