Danone Sells Stake in Bright Dairy and Food
Posted on: Friday, 13 June 2008, 09:00 CDT
Danone Asia, a unit of Groupe Danone, has sold its stake in Bright Dairy and Food, revealed Chinaknowledge.com. With the completion of this sale, both companies end their 15-year partnership.
Bright Dairy Group, the parent company of Bright Dairy and Food, has purchased a 10.005% stake in Bright Dairy and Food from Danone. The parent company has paid CNY4.58 for each share of Bright Dairy and Food.
The company also stated that SI Food Products Holdings, a major shareholder of Bright Dairy, is in transactions to acquire the remaining 10.005% stake from Danone Asia for the same CNY4.58 per share.
After the conclusion of this deal, both Bright Dairy Group and SI Food Products Holdings will each have a 35.18% stake in Bright Dairy and Food.
Source: Datamonitor
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