Danone to take almost $980 million hit from its Russian exit

France-based food company Danone SA will divest its dairy food business in Russia, which could result in a write-off of up to €1 billion ($978 million), Reuters reported. With this, Danone joins the long list of companies that have made costly exits from Russia since its war on Ukraine. The Russian dairy unit accounted for about 5% of Danone’s overall net sales in the first nine months of the year.