Danone has entered an agreement with investment specialist The Abraaj Group to jointly acquire Fan Milk International, a Danish dairy manufacturer and distributor that operates in West Africa. The deal originally will give Danone a 49% stake, while Abraaj will maintain 51%. But Danone will gradually assume a controlling stake in coming years. "This transaction represents a major step in Danone's expansion in Africa," said operating chief Emannuel Faber.

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