A Danone Group joint venture has agreed to take a stake worth about HK$3.6 billion in China Mengniu Dairy, marking a comeback for the French company in China where food scares have hit consumer confidence.
China Mengniu, one of the country’s largest dairy producers, also said on Monday it would set up an 80 per cent-owned joint venture with Danone to develop a chilled yoghurt product portfolio in China, Hong Kong and Macau.
via Business feed http://www.scmp.com/business/companies/article/1241892/french-food-group-danone-takes-stake-china-mengniu
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