Deutsche Bank and Goldman Sachs have been picked to ready the listing for the first quarter of 2013 according to Reuters, which cited three banking sources.
Abraaj currently owns a 51 per cent stake in Stanford, with Waha Capital controlling the rest.
Abraaj, which had previously agreed to buy 100 per cent of the company, will own a 51 per cent stake with Danone holding the remaining 49 per cent interest.
Under the agreement, Danone will gradually acquire a controlling stake in Fan Milk.
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