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Danone Sells DS Waters to Kelso
LONDON - Nov 16/05 - SNS -- Groupe Danone has finalized the sale of DS Waters to investment fund Kelso.
DS Waters was set up in November 2003 by combining the Home and Office Delivery (HOD) business of Groupe Danone in the US with all operations of Suntory Water Group. The company's revenues come to nearly US $800 million.
The agreement with Kelso covers 100% of DS Waters equity and includes the purchase by Groupe Danone of the interest held by Suntory Limited in DS Waters, in keeping with the terms of the sales option agreed earlier.
For Danone, final conditions set for the sale of DS Waters will mean booking an additional one-time charge of around EUR 100 million net of tax for the second half of 2005.
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