General Mills Inc (GIS.N) said on Wednesday it would purchase a 51 percent stake in French yogurt maker Yoplait for 810 million euros ($1.15 billion). General Mills, which has held U.S. distribution rights to Yoplait since 1977, said it expects the deal to close in the quarter that begins at the end of May. Yoplait is jointly owned by private equity fund PAI Partners and French dairy co-operative Sodiaal. Sodiaal will retain the remaining stake in Yoplait. General Mills and Yoplait said that they would end an arbitration case over the U.S. license and that General Mills would continue to market Yoplait yogurt under that license. (1 euro=$1.42)
General Mills, Inc. (General Mills) is a global manufacturer and marketer of consumer foods sold through retail stores. Shares of GIS remained unchanged at $39.87. In the past year, the shares have traded as low as $33.11 and as high as $39.90. On average, 4064630 shares of GIS exchange hands on a given day and today's volume is recorded at 100.
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