Danone SA (DANO.PA)
15 Dec 2017
Fri, Dec 1 2017
* Fonterra says decision will not impact farmgate milk prices
Dec 1 New Zealand dairy Fonterra Co-operative Group cut on Friday its forecast earnings for the financial year after a tribunal determined it must pay Danone SA NZ$183 million ($125.10 million) for recall costs incurred by the French company.
* MADE A DECISION TO REVISE ITS FORECAST EARNINGS PER SHARE RANGE FOR 2017/18 FINANCIAL YEAR TO 35 TO 45 CENTS, DOWN FROM 45 TO 55 CENTS Source text for Eikon: Further company coverage:
WELLINGTON, Dec 1 New Zealand's Fonterra has been ordered to pay French company Danone 105 million euros ($125 million) in damages over the recall in 2013 of its whey protein concentrate due to a contamination scare, the two companies said.
* AWARDED DAMAGES OF €105 MILLION TO BE PAID IMMEDIATELY BY FONTERRA FOR COSTS SUFFERED AS A RESULT OF FONTERRA FOOD SAFETY FAILURES OF 2013. Source text for Eikon: Further company coverage:
Dec 1 New Zealand's Fonterra requested an immediate temporary trading halt on Friday to have time to consider the outcome of its arbitration with Danone SA regarding its 2013 whey protein concentrate precautionary recall.
* REQUEST HAS BEEN MADE TO GIVE FONTERRA TIME TO CONSIDER OUTCOME OF ITS ARBITRATION WITH DANONE
PARIS, Oct 18 Danone veteran Franck Riboud is stepping down as chairman, with Chief Executive Emmanuel Faber taking on both top roles in a move the French group said would ensure continuity in its strategy of focusing on the health-food sector.
* Danone to maintain focus on 2020 targets -Faber (Adds Danone statement and quotes, detail and context)
PARIS, Oct 18 French food group Danone said chief executive Emmanuel Faber would also take on the role of chairman, replacing Franck Riboud who is stepping down from that position.