As at 2013 Abraj and Danone became joint owners of Fan Milk with each of them having 51% and 49% stake in Fan Milk respectively. Danone became a majority shareholder in 2016. On July 30, 2019, Danone acquired the remaining 49% shares of Abraaj to increase its stake to 100%.

Abraaj joined the Fan Milk Limited board. Photo source: SpyGhana.com Following the acquisition by Danone and Abraaj, Fan Milk Limited announced that it would reduce its investment in Ghana during 2014. The country’s managing director said that the board had made this decision owing to recent electricity shortages in the

2021-03-23 · Danone and Abraaj jointly invested in Fan Milk in 2013. Danone became a majority shareholder in Fan Milk in 2016. Danone has been active in Africa since 1953, when the company launched its first foreign subsidiary in Morocco. In 2015, Danone created its Africa division as a multi category business to speed up its growth in this strategic region.

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“We look forward to partnering with Danone in order to accelerate the growth and penetration of Fan Milk’s portfolio of leading consumer food brands across West Africa,” said Arif Naqvi, the founder and CEO of The Abraaj Group. With the investment, Danone intends to strengthen its subsidiary Fan Milk and help the company meet growing demand in the regional West African market. Established in 1962, FanMilk is reported to be one of the oldest milk brands in Ghana. In 2013, Danone and Abraaj jointly invested in the company and Danone acquired a majority stake last year.

France’s Danone and Abraaj Group, a private equity firm announced on Thursday a partnership agreement that allows Danone to own stake in Fan Milk International, which previously was 100 percent acquired by the Abraaj group earlier this year.

Danone became a majority shareholder in Fan Milk in 2016. Stéphane Couste, Managing Director of Fan Milk Ghana said, "The new FanMaxx is a product of Fan Milk, which has been a trusted brand in Ghana for 55 years. Danone increased its stake in Fan Milk International to 100% after transaction on July 30, the dairy product manufacturer’s Accra-based unit says in statement emailed by Ghana Stock Exchange. * Zahi El Khatib resigns as non-executive director of Fan Milk Ghana.

Danone and Abraaj jointly invested in Fan Milk in 2013. Danone became a majority shareholder in Fan Milk in 2016. Stéphane Couste, Managing Director of Fan Milk Ghana said, "The new FanMaxx is a product of Fan Milk, which has been a trusted brand in Ghana for 55 years.

On July 30, 2019, Danone acquired the remaining 49% shares of Abraaj to increase its stake to 100%. French dairy group Danone SA and Dubai-based private equity group Abraaj Group on Thursday said they have jointly bought Fan Milk International A/S, a West African producer of frozen dairy In 2016, Danone became the majority shareholder in Fan Milk, which also operates in Nigeria, Ivory Coast, Ghana, Burkina Faso, Togo and Benin. It initially acquired 49 per cent of the company, in Fan Milk, founded and still owned by a Danish family, had sales of about $160m and earnings before interest, taxes, depreciation and amortisation of about $46m last year. It sells frozen dairy Danone, together with the Abraaj Group has invested $25m in Fan Milk (Ghana), adding three new production lines to its factory in Accra. The investment will help Fan Milk’s local subsidiary to sustain the growing demand for dairy products in the regional West African market. In 2016, Danone (Global Dairy Manufacturer) partnered with Abraaj (a Private equity firm) to acquire majority stake in FanMilk.

* Zahi El Khatib resigns as non-executive director of Fan Milk Ghana. In 2016, Danone (Global Dairy Manufacturer) partnered with Abraaj (a Private equity firm) to acquire majority stake in FanMilk. In 2019, Danone secured Abraaj’s stake in FanMilk becoming the sole majority shareholder of FanMilk. Danone, together with The Abraaj Group, a leading investor in growth markets, has added three new production lines to its factory in Accra, Ghana.
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Danone and The Abraaj Group have invested $25 million into Ghanaian dairy products portfolio company Fan Milk.

(Current members login here) Reserve your digital subscription today. 2013-10-27 Danone and The Abraaj Group (“Abraaj”), a leading investor operating in growth markets, today announced a partnership agreement whereby Danone will join Abraaj in the acquisition of Fan Milk … Danone is joining The Abraaj Group in the acquisition of Fan Milk International, a leading dairy products player in West Africa.
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Fan Milk, founded and still owned by a Danish family, had sales of about $160m and earnings before interest, taxes, depreciation and amortisation of about $46m last year. It sells frozen dairy

Danone, together with The Abraaj Group, a leading investor in growth markets, has added three new production lines to its factory in Accra, Ghana. The total investment of USD $25 million will help Fan Milk Ltd, its local subsidiary, to sustain the growing demand for dairy products in the regional West African market. As at 2013 Abraj and Danone are joint owners of Fan Milk with each of them having 51% and 49% stake in Fan Milk respectively. Danone became a majority shareholder in 2016. On July 30, 2019, Danone acquires the remaining 49% shares of Abraaj to increase its stake to 100%. French dairy group Danone SA and Dubai-based private equity group Abraaj Group on Thursday said they have jointly bought Fan Milk International A/S, a West African producer of frozen dairy The Abraaj Group had previously announced its agreement to acquire 100% of Fan Milk through one of its Funds in June 2013. Abraaj and Danone will now respectively acquire a 51% and 49% stake in Fan Milk International.