French food group Danone sells stakes in Japanese probiotics maker Yakult

French food group Danone, which is facing investor pressure to boost returns, plans to sell a 14 percent stake in Japanese probiotics maker Yakult.

The sale of two-thirds of Danone’s current Yakult holding could fetch about 1.5 billion euros ($1.86 billion), based on market prices.

Danone, the world’s largest yoghurt maker, said the sale would be carried out via a market transaction initiated by Yakult, which is expected to be settled in March. Yakult also announced a 36 billion Japanese yen ($335.76 million) share buyback program in which Danone will participate.

Last year, Danone sold dairy business Stonyfield to Lactalis for $875 million after acquiring U.S. organic foods pioneer WhiteWave for $12.5 billion.