French dairy and water company Danone SA (BN.FR) Co-Chief Executive Emmanuel Faber reiterated Friday that the company's EUR3 billion rights issue is simply a measure of "good housekeeping."

Speaking in a conference call after the launch of the capital increase, Faber said the company is aiming for a competitive financial structure, adding that there is no big plan to transform the group, such as a major acquisition.

He said he is very confident of the success of the rights issue.

Company Web site: www.danone.com

-By Geraldine Amiel, Dow Jones Newswires; +33 1 40171740; geraldine.amiel@dowjones.com;