Reuters reports that Japanese drink maker Yakult Honsha has confirmed it has agreed with Danone SA to continue talks on the possibility of the French food company to take a bigger stake in Yakult.
However, these talks centre on the premise that Yakult will retain its independence, a Yakult executive told reporters.
Danone first took a stake in Yakult in 2000, and the two firms entered into a strategic agreement in 2004. Under the terms of that deal, Danone could not lift its stake to more than 20% for five years.
The agreement was revised in 2007 and the provision was extended for an additional three years, until it expired earlier this year.