French investment company Eurazeo (RF.FR) Thursday said it has implemented a plan to sell up to 1.62% of the capital of French food and beverage company Danone SA (BN.FR) at EUR43.47 a share.

The divestment program will run until the summer of 2010 and the number of shares Eurazeo sells will depend on the performance of the share price during the program, Eurazeo said.

Eurazeo said it has fixed the selling price at EUR43.47 a share via hedging already put in place.

At 1530 GMT, shares in Danone were up EUR0.72, or 1.8%, at EUR41.19.

Eurazeo's divestment plan follows the issuance in May of bonds exchangeable for Danone shares and aims to reduce Eurazeo's exposure to financing subject to margin calls, the investment company said.

Company Web site: www.eurazeo.com

-By William Horobin, Dow Jones Newswires; +33 1 4017 1740; william.horobin@dowjones.com
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