The WhiteWave Foods Company Announces Commencement Of Consent Solicitation

DENVER, Nov. 14, 2016 (GLOBE NEWSWIRE) -- The WhiteWave Foods Company (NYSE:WWAV) (the "Company") announced the commencement of a consent solicitation relating to its outstanding $500,000,000 5.375% Senior Notes due 2022 (the "2022 Notes").

As previously announced, on July 6, 2016, the Company entered into an Agreement and Plan of Merger with Danone S.A., a société anonyme organized under the laws of France ("Danone"), and July Merger Sub Inc., a Delaware corporation and an indirect wholly owned subsidiary of Danone ("Merger Sub"), pursuant to which Merger Sub will be merged with and into the Company with the Company continuing as the surviving corporation (the "Merger"). Upon completion of the Merger, the Company will become an indirect wholly owned subsidiary of Danone. The Merger remains subject to receipt of necessary regulatory approvals and other customary conditions. The Company and Danone continue to work with the relevant entities to obtain regulatory clearance and approval. The Company currently expects closing to occur in the first quarter of 2017; however, there can be no assurance regarding the timing of receipt of regulatory approvals or the completion of the Merger. In connection with the Merger, the Company is making the consent solicitation at the request and expense of Danone.

The consent solicitation will expire at 5:00 p.m., Eastern time, on November 21, 2016, unless terminated or extended by the Company (the "Expiration Date"). The consent solicitation is conditioned on the receipt of valid (and not validly revoked) consents from holders of 2022 Notes as of 5:00 p.m., Eastern time, on November 11, 2016 (the "Record Date") of at least a majority in aggregate principal amount of the outstanding 2022 Notes, voting together as a single class. The consent solicitation is also conditioned on other customary closing conditions, each of which may be waived by the Company at any time.

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