Danone is selling its majority share in BSN Emballage to the UK's CVC Capital Partners and is buying six Gerresheimer packaging plants which will be combined in a new company. CVC will have a 56% share in the new business, which has been valued at FFr7.6bn, with the remaining 44% owned by Danone. With plants in France, Germany The Netherlands and Spain, the move makes the new group the second largest glass packaging manufacturer in Europe behind Saint-Gobain. Additional acquisitions are likely in the UK and Italy in the future. Daniel Melin, head of Danone's container division will lead the new company. Capital is to be invested over the next five years to bring existing plants up-to-date and there are plans for the construction of a new plant in the Languedoc area of France. (whole item)
