U.S. food company General Mills (GIS.N) has won the bidding for a stake in Yoplait, and will pay 800 million euros ($1.1 billion) for 50 percent of a yogurt brand whose U.S. distribution rights it has long held. Private equity fund PAI Partners and French dairy co-operative Sodiaal said on Friday they were in exclusive talks with General Mills. They did not give specifics on the timing of a final deal, nor how General Mills would finance it. The announcement capped months of negotiations over Yoplait, the world's second-biggest yogurt brand after Danone (DANO.PA).
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