TOKYO — French food processor Danone has sold its stake in Japan’s Yakult Honsha, dissolving its 20-year-old capital ties with the Japanese probiotic drink maker, as the tie-up failed to produce the hoped for synergies.
Yakult, which once feared a takeover by Danone, has regained full management independence. But the company finds itself under pressure to bolster its overseas businesses.
Yakult announced Wednesday that Danone had notified it that the French company had sold its 6.61% stake. Yakult, in a statement released the same day, stressed the two will continue to work together. “Yakult and Danone will maintain their long-term amicable relationship and continue to promote probiotics in the future,” the statement said. Probiotics are microorganisms that have health benefits for humans. Read more…..
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Strong financial support from the government and the Federal Reserve have spurred a solid recovery from the pandemic recession, but the rebound may falter without further aid, Fed Chair Jerome Powell warned Tuesday.