Groupe Lactalis S.A. agreed to acquire The Icelandic Milk & Skyr Corporation from Emmi AG (SWX:EMMN) and other shareholders on January 4, 2018. Emmi will sell its 22% stake in The Icelandic Milk & Skyr. After completion, The Icelandic Milk & Skyr will continue operating out of its New York City office and will remain a standalone company under its current senior leadership team, which includes its founder, Siggi Hilmarsson, as Chief Executive Officer, and Bart Adlam as President. The transaction is subject to subject to expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act in the United States, approval by the relevant competition authorities and regulatory approval in the US. The transaction is expected to close on January 31, 2018. Emmi expects the positive effect of this transaction on its net profit of the financial year 2018. J.P. Morgan Securities LLC acted as the financial advisor and The Giannuzzi Group acted as the legal advisor to The Icelandic Milk & Skyr. Dentons US LLP acted as the legal advisor to the Lactalis.