The move comes as Danone attempts to fortify its dairy products operations in Asia while Calpis and Ajinomoto unload their noncore businesses.
Calpis Ajinomoto Danone Co. (CAD) began as a 50-50 joint venture between Danone and Ajinomoto in 1980 before taking its current form in 1992. Danone owns a 50 per cent stake in CAD, while Calpis and Ajinomoto hold interests of 30 per cent and 20 per cent, respectively. For the fiscal year ended Dec. 31, 2005, CAD posted sales of 21 billion yen (US$ 172.5 million).