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Danone doesn't need transformational deals - CEO

Reuters

PARIS (Reuters) - French food group Danone (DANO.PA) does not need to make a large acquisition to pursue its development, its chief executive said on Tuesday.

"Danone does not need to make any transformation deal to be operational," Emmanuel Faber told the CAGE investor conference in comments broadcast online.

In December, Danone said it would keep its Medical Nutrition division, ending months of speculation that the world's largest yoghurt maker was trying to sell its smallest business to raise cash for acquisitions.

Danone could notably have used proceeds to help fund a takeover of U.S. infant formula maker Mead Johnson Nutrition Group (MJN.N), a deal that sources have said it wants to pursue.

(Reporting by Dominique Vidalon; Editing by James Regan)