Danone has announced the sale of its 22.98% stake in China Huiyuan Juice Group, the Asian country’s largest juice maker, to venture-capital fund SAIF Partners in a deal worth E200m. Danone said the move is part of its strategy to focus on bottled water in China.

Danone also reiterated its commitment to the Chinese market, saying it will contine to concentrate on all four of its main businesses – yoghurts, waters, baby food and medical nutrition – in the country.

China Huiyuan had been courted by Coca-Cola earlier, but the deal was blocked by Chinese regulators. The company has a 40% share of China’s pure fruit juice market.

NamNews - Thursday 29th July 2010

 

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