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Article: DANONE BREAKS UP WITH WAHAHA GROUP
- Article from:
- AsiaInfo Services
- Article date:
- October 9, 2009
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AsiaInfo Services
10-09-2009
Danone Breaks up with Wahaha Group
BEIJING, Oct 09, 2009 (SinoCast Daily Business Beat via COMTEX) -- France-based food heavyweight Danone SA decided to put an end to its partnership with Hangzhou Wahaha Group Co., Ltd., after a long-running legal dispute turned out to be fruitless.
The partners co-announced on September 30 that they had entered into an amicable agreement, under which the French company would sell 51% stakes in all the Danone-Wahaha joint ventures to its Chinese cooperator.
The proposal needs an approval from the Chinese regulators, the two companies said, without giving financial details.
The Danone-Wahaha tie, once regarded as a win-win ...
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