Danone in €3 Billion Rights Offering

June 3, 2009

Cleary Gottlieb is representing the underwriters, led by J.P. Morgan and CALYON, of the €3 billion rights offering by Danone that launched on May 29 and is expected to close on June 25. The offering consists of a public offering in France and in Switzerland and private placements internationally (including by the issuer in the United States).

Danone is a Fortune 500 company and one of the most successful healthy food companies in the world. Danone intends to use the proceeds of the rights offering to strengthen its capital structure, reduce its financial leverage and finance potential add-on acquisitions.